Marigold Corp. purchased merchandise inventory with an invoice price of $14000 and credit terms of 2/9, n/30. What is th...
Marigold Corp. purchased merchandise inventory with an invoice price of $14000 and credit terms of 2/9, n/30. What is the net cost of the goods if Marigold Corp. pays within the discount period?
Homework Answers
The net cost of the goods if Marigold Corp. pays within the discount period= $13,720
Working
| Invoice value | $ 14,000.00 |
| Less: Discount availed (14000 x 2%) | $ 280.00 |
| Net cost | $ 13,720.00 |
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3
Paid $220 cash
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4
Returned to Lyon
Company unacceptable merchandise that had an invoice price of
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18
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4
Returned to Lyon
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