Merchandise is purchased for $5,600 on September 2 subject to terms of 2/10, n/30, FOB destination....
Merchandise is purchased for $5,600 on September 2 subject to terms of 2/10, n/30, FOB destination. Freight costs paid by the seller totaled $150. What is the cost of the merchandise if paid on September 12, assuming the discount is taken?
a.$5,488
b.$5,750
c.$5,862
d.$5,376
Homework Answers
| Correct option is: a. $5,488 | |||
| Workings: | |||
| Purchase price of Merchandise | = | $ 5,600 | |
| Less: | Discount ($5600 X 2%) | = | $ 112 |
| Cost of Merchandise | = | $ 5,488 |
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Merchandise is purchased for $5,600 on September 2 subject to
terms of 2/10, n/30, FOB destination....
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