1. An invoice is dated June 28 for $867.60 with terms of 8/10 EOM. Merchandise was received on July 3. How much is due if the invoice is paid (a) on or before July 10? (b) on August 10? (c) on August 30? 2. A wholesaler ordered 14 bolts of drapery fabric at $5.50 per yard. Each bolt had 60 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, n/30. How much should be remitted if the invoice is paid on March 29? 3. An off-price specialty store chain reported that sales dropped to $338.4 million from $374.7 million, reflecting the closure of 25 stores in the year. What was the percent decrease? 4. Neiman-Marcus Direct reported sales of $363.8 million for fiscal year 2000, an increase of 13.1% over the previous year. What did the sales total in fiscal year 1999? 5. Calculate gross sales if net sales are $167,800 and customer returns are 7.8%. 6. A salesperson on commission earns $8.50 per hour, plus 2% commission on sales. Last week, she worked 38 hours and had net sales of $3,671. Calculate (a) selling cost percent and (b) average earnings per hour. 7. The average sale in a department store was $25.76 during a month when the store processed 21,426 customers. What were the store's total sales for the month? 8. The Asian food section in a supermarket had sales of $3,500 last week. If the Asian food products occupy 200 linear feet of selling space, what was the department's Asian food sales per linear foot for the week? 9. Last year, the women's hosiery department occupied 1,000 square feet and had sales of $129,000. If sales stay the same this year, what reduction in space would bring the store's sales per square foot in line with the industry average of $159 per square foot? 10. The manager of Contemporary Casuals was trying to determine if the gross margin return on investment had improved from last year. Last year the average inventory at cost was $61,600 while this year it was $62,900. Last year net sales were $280,779 and this year they improved to $281,444. The gross margin percent for last year was 52.00% and this year it was 52.50%. Calculate the GMROI for this year and last year and determine if the GMROI has improved