Dollas Towr Sales Purchases 105,000 4,000 Beginning Inventory 13,800 10,200 1,800 4,200 2,400 4,800 3,000 Ending Inventory Purchase Returns and Allowances Purchase Discounts Transportation-in Sales Discounts Sales Returns and Allowances 15. Refer to the information provided for Dollar Town. Calculate net sales. $97,200 a. b. $100.200 c. $102,000 d. $105,000 6. Refer to the information provided for Dollar Town. Calculate the net cost of goods purchased. a. $50,400 b. $54,000 c. $61,800 d. $70,200 17. Refer to the information provided for Dollar Town. Calculate the company's gross margin. a. $40,800 b. $43,200 c. $46,800 d. $51,000 18. Coffski, Inc. sold merchandise to a customer on credit. The invoice amount was $1,000; the invoice date was June 10th; credit terms were 1/10, n/30. Which of the following statements is true? a. The customer can take a 10% discount if the invoice is paid by June 30th. b. The customer should pay $1,000 if the invoice is paid on July 9th c. The customer must pay a $10 penalty if payment is made after July 9th. d. The customer must pay $1,010 if payment is made after June 20th. Eli Company sells novelty items and offers terms of 1/10, n/30 to credit customers. One customer, Faulkner, Inc., purchased 100 Sweet-16 party decor packs with a list price of $20 each on March 5, 2013. 19. Refer to the information provided for Eli Company. If the customer pays the amount of the invoice for its purchase on March 14, 2013, how much cash will Eli Company receive? a. $1,400 b. $1,800 c. $1,980 d. $2,000