1. An invoice dated May 15 with trade discounts of 40% and 15% hos terms of 3/10, V30. The invoice roads as follows: Quantity List Price ($) 3, dozen Clutch 35.00 each 2% dozen Balfold 30.00 each 1% dozen French purse 45.00 each 27, dozen Card caso How much should be remitted if the invoice is pd ora) May 25? (b) June 10? 8 Chapter 4 was received on July 3. How much is due if the invoice 2. An invoice is dated June 28 for $867.60 with terms of 8/10 EOM Merche is paid (a) on or before July 10? (b) on August 107 (c) on August 3. Merchandise received on July 20 is charged to the store on an invoice dated July 8 for $1.254 with terms of 6/10-60X. (a) What is the last day for taking the cash discount? (b) of the invoice is paid on September 17, how much should be remitted? 4. A retailer in Atlanta ordered a shipment of shoes totaling $15,800 from a vender in California. The shipping cost was $220. The shoes were shipped FOB Atlanta, charges reversed. The shoe vendor gave the retailor a 1% damage allowance. How much did the retailer pay the vendor for the shoes? 5. On April 2, merchandise costing $15,400 reaches the retailer located in New Orleans, Louisiana. The invoice is dated March 22 and has terms of B/10 EOM. The invoice is paid on April 10 (a) How much should be remitted? (b) if the merchandise is shipped FOB New Orleans, Louisiana, charges reversed with transportation charge of $300, how much should be remitted? 6. Merchandise with a total biled cost of $8,320 arrived at the retailer October 6. Terms of the invoice, doted September 22, were 3/10 ROG, FOB store, Transportation charges were $210. If the invoice is paid on October 16. how much should be paid? 7. A wholesaler ordered 14 bolts of drapery fabric at $5.50 por yard. Enchbolt had 0 yards. The order qualified for a quantity discount of 2%. The merchandise was shipped FOB factory, freight charges of $21.80 were prepaid. The invoice was dated March 18 with terms of 2/15, 130. How much should be remitted if the invoice is pad on March 292 Chapter 4 Summary Problems y Problems Chapter 4 Summary Problems 1. An invoice dated May 15 with trade discounts of 40% and 15% has terms of 3/10, 1730. The invoice roads as follo Quantity item List Price (S) 3/ dozen Clutch 35.00 each 2 dozen Billfold 30.00 each 1% dozen French purse 45.00 each 2% dozen 25.00 each How much should be remitted if the invoice is paid on (a) May 25? b) June 102 96 chapter 4 on July 3. How much is due the invoice 2. An invoice is dated June 28 for $867.60 with terms is paid (m) on or before July 10? (b) on August 10? 254 with terms of B/10-80X 3. Merchandise reolied on July 20 is charged to the store on an invoice (a) What is the last day for taking the cash discount? (b) If the invoice is paid on September 17, how much should be rem & 4. A retailer in Atlanta ordered a shipment of shoes totaling $15.800 from a vendor in California. The shipping cost was $220. The shoes were shipped FOB Atlanta: charges reversed. The shoe vendor gave the retailer a 1% damage allowance. How much did the retailer pay the vendor for the shoes? 5. On April 2. merchandise costing $15.400 reaches the retailer located in New Orleans, Louisiana The voice is dated March 22 and has terms of 8/10 EOM. The invoice is paid on April 10. (a) How much should be remitted? (b) the merchandise is shipped FOB New Orleans, Louisiana, charges reversed with transportation charge of $300,how much should be remitted? 6. Merchandise with a total billed cost of $8,320 arrived at the retailer October 6. Terms of the invoice, dated September 22, were 3/10 ROG, FOB store. Transportation charges were $210. If the invoice is paid on October 16, how much should be paid? 7. A wholesaler ordered 14 bolts of drapery fabrio at $5.50 per yerd. Each bolt had 60 yards. The order qualified for a quantity discount of 2%. The merchandise was shipped FOB factory, freight charge of $21.80 were prepaid. The invoke wis dated March 18 with terms of 2/15, 1/30. How much should be remitted if the invoice is paid on March 292 8. The buyer for the children's department is offered advanced dating and free transportation if the store will accept delivery of winter coats in August. The invoice, dated August 1, has a total billed cost of $2.158.60 with forms of 8/10, 1/30s of October 1, FOB store. The coats arrive August 8; transportation costs of $28.70 have been prepaid. If the invoice is paid on October 11, how much should be romitted? 9. A sportswear buyer placed the following order for coordinates: Quantity Item Cost (5) 4 dozen Blouses 19.00 each 3, dozen Skirts 21.00 each 2, dosen Pants 23.00 each 3% dozen Jackets 36.00 each Cost of Merchandise Sold 97 The merchandise is shipped September 15 and received September 22. Invoice terms are 8/10 EOM, FOB factory, transportation charges of $24.79 have been prepaid. How much should be remitted if the invoice is paid on October 8? b) October 25? 10. The toy buyer had the option of ordering stuffed animals directly from the manufacturer or from a nearby wholesaler. The manufac lurer will not ship orders for loss than $1.200 total list price Delivery typically requires five wooks, and freight average 2.5% of total billed cost. Trade discounts on this merchandise are 40% and 10%; terms are 2/10, 1/30. A wholesale, looted in the reader's are stocks many of the same stuffed animals. He does not require a minimum order and will deliver at no change in the area the order has a biled cost of at least $500. The manufacturer and wholesaler base cost on the are le price, however, the whole oils with trade discounts of 40% and 8% and forms of 1/10 V30 (a) What is the difference in the total cost including freight of merchandise with a total al price of $1,200 from these two vendors? (Be sure to take the cash discount) 1) What other considerations should influence the choice of vendors? 1. An invoice dated May 15 with trade discounts of 40% and 15% hos terms of 3/10, V30. The invoice roads as follows: Quantity List Price ($) 3, dozen Clutch 35.00 each 2% dozen Balfold 30.00 each 1% dozen French purse 45.00 each 27, dozen Card caso How much should be remitted if the invoice is pd ora) May 25? (b) June 10? 8 Chapter 4 was received on July 3. How much is due if the invoice 2. An invoice is dated June 28 for $867.60 with terms of 8/10 EOM Merche is paid (a) on or before July 10? (b) on August 107 (c) on August 3. Merchandise received on July 20 is charged to the store on an invoice dated July 8 for $1.254 with terms of 6/10-60X. (a) What is the last day for taking the cash discount? (b) of the invoice is paid on September 17, how much should be remitted? 4. A retailer in Atlanta ordered a shipment of shoes totaling $15,800 from a vender in California. The shipping cost was $220. The shoes were shipped FOB Atlanta, charges reversed. The shoe vendor gave the retailor a 1% damage allowance. How much did the retailer pay the vendor for the shoes? 5. On April 2, merchandise costing $15,400 reaches the retailer located in New Orleans, Louisiana. The invoice is dated March 22 and has terms of B/10 EOM. The invoice is paid on April 10 (a) How much should be remitted? (b) if the merchandise is shipped FOB New Orleans, Louisiana, charges reversed with transportation charge of $300, how much should be remitted? 6. Merchandise with a total biled cost of $8,320 arrived at the retailer October 6. Terms of the invoice, doted September 22, were 3/10 ROG, FOB store, Transportation charges were $210. If the invoice is paid on October 16. how much should be paid? 7. A wholesaler ordered 14 bolts of drapery fabric at $5.50 por yard. Enchbolt had 0 yards. The order qualified for a quantity discount of 2%. The merchandise was shipped FOB factory, freight charges of $21.80 were prepaid. The invoice was dated March 18 with terms of 2/15, 130. How much should be remitted if the invoice is pad on March 292 Chapter 4 Summary Problems y Problems Chapter 4 Summary Problems 1. An invoice dated May 15 with trade discounts of 40% and 15% has terms of 3/10, 1730. The invoice roads as follo Quantity item List Price (S) 3/ dozen Clutch 35.00 each 2 dozen Billfold 30.00 each 1% dozen French purse 45.00 each 2% dozen 25.00 each How much should be remitted if the invoice is paid on (a) May 25? b) June 102 96 chapter 4 on July 3. How much is due the invoice 2. An invoice is dated June 28 for $867.60 with terms is paid (m) on or before July 10? (b) on August 10? 254 with terms of B/10-80X 3. Merchandise reolied on July 20 is charged to the store on an invoice (a) What is the last day for taking the cash discount? (b) If the invoice is paid on September 17, how much should be rem & 4. A retailer in Atlanta ordered a shipment of shoes totaling $15.800 from a vendor in California. The shipping cost was $220. The shoes were shipped FOB Atlanta: charges reversed. The shoe vendor gave the retailer a 1% damage allowance. How much did the retailer pay the vendor for the shoes? 5. On April 2. merchandise costing $15.400 reaches the retailer located in New Orleans, Louisiana The voice is dated March 22 and has terms of 8/10 EOM. The invoice is paid on April 10. (a) How much should be remitted? (b) the merchandise is shipped FOB New Orleans, Louisiana, charges reversed with transportation charge of $300,how much should be remitted? 6. Merchandise with a total billed cost of $8,320 arrived at the retailer October 6. Terms of the invoice, dated September 22, were 3/10 ROG, FOB store. Transportation charges were $210. If the invoice is paid on October 16, how much should be paid? 7. A wholesaler ordered 14 bolts of drapery fabrio at $5.50 per yerd. Each bolt had 60 yards. The order qualified for a quantity discount of 2%. The merchandise was shipped FOB factory, freight charge of $21.80 were prepaid. The invoke wis dated March 18 with terms of 2/15, 1/30. How much should be remitted if the invoice is paid on March 292 8. The buyer for the children's department is offered advanced dating and free transportation if the store will accept delivery of winter coats in August. The invoice, dated August 1, has a total billed cost of $2.158.60 with forms of 8/10, 1/30s of October 1, FOB store. The coats arrive August 8; transportation costs of $28.70 have been prepaid. If the invoice is paid on October 11, how much should be romitted? 9. A sportswear buyer placed the following order for coordinates: Quantity Item Cost (5) 4 dozen Blouses 19.00 each 3, dozen Skirts 21.00 each 2, dosen Pants 23.00 each 3% dozen Jackets 36.00 each Cost of Merchandise Sold 97 The merchandise is shipped September 15 and received September 22. Invoice terms are 8/10 EOM, FOB factory, transportation charges of $24.79 have been prepaid. How much should be remitted if the invoice is paid on October 8? b) October 25? 10. The toy buyer had the option of ordering stuffed animals directly from the manufacturer or from a nearby wholesaler. The manufac lurer will not ship orders for loss than $1.200 total list price Delivery typically requires five wooks, and freight average 2.5% of total billed cost. Trade discounts on this merchandise are 40% and 10%; terms are 2/10, 1/30. A wholesale, looted in the reader's are stocks many of the same stuffed animals. He does not require a minimum order and will deliver at no change in the area the order has a biled cost of at least $500. The manufacturer and wholesaler base cost on the are le price, however, the whole oils with trade discounts of 40% and 8% and forms of 1/10 V30 (a) What is the difference in the total cost including freight of merchandise with a total al price of $1,200 from these two vendors? (Be sure to take the cash discount) 1) What other considerations should influence the choice of vendors