Chapter 7 Test Form A Name: Find the net cost (invoice amount) for the following. Round to the nearest cent. 1. List price: $1436.92 less 12/12/20 1. 2. List price: $875 less 10/15 2. Find (a) the net cost equivalent and (b) the single discount equivalent for the following series discounts. 3. 25/15 (b) 3. (a) 4. 15/10/12 4. (a) (b) Find the final discount date for the following. Invoice Date Goods Date Terms Received 5. March 15 2/17 prox. March 23 6. January 20 3/10 ROG February 17 7. October 26 3/10 EOM November 10 5. 6. 7. 8. September 152/15-20 extra September 24 8. 9. (a) (b) (C) 9. The following invoice was paid on September 2. Find (a) the invoice total, (b) the amount that should be paid after the cash discount, and (c) the total amount due, including shipping and insurance. GOURMET KITCHEN WHOLESALER Terms: 3/10, 2/20, n/30 August 24 Quantity Description Unit Price Extension Total 5 Electric mixers @ 34.95 ca Mixing bowl sets @ 21.80 ca. 10 Canister sets @ 34.70 ca. 25 Rolling pins @ 12.90 ea. (a) Invoice Total Cash Discount (b) Due after Cash Discount Shipping and Insurance $46.20 (c) Total Amount Due 5