Question

What amount should be remitted to the shoe manufacturer for the following merchandise?
24 pairs of hiking boots $64.00 list price
18 pairs of fishing boots at $10.00 list price
16 pairs of water shoes 40.00 list price
The invoice is dated February 18 and paid on March 12. Trade discounts are 40% and 10%. Terms are 8/10 EOM. FOB store. The vendor has prepaid the transportation charges of $23.78. How much should be remitted?

	a.	$3976.00
	b.	$2385.60
	c.	$2170.82
	d.	$1272.24

Answer 1

Ans.	Particulars		Amt.($)
	Hiking Boots		1,536
	Fishing Boots		180
	Water Shoes		640
	Total Price		2,356
	Less: Trade Disc. 40%		942.40
			1,413.60
	Less: Trade Disc. 10%		141.36
	Amount Remitted		1,272.24