Question
A firm buys 300 pens from a manufacturer for $600 on June 10 under terms of 3/10, net/30. The pens are shipped FOB destination,
A firm buys 300 pens from a manufacturer for $600 on June 10 under terms of 3/10, net/30. The pens are shipped FOB destination, so the $100 shipping costs are paid by the seller. The firm returns 30 of the pens on June 12 and pays for the balance on June 22. What is the firm's final cost per pen?
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
