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i need help with FOB SHIPPING 15. Merchandise with an invoice price of $14,000 is sold subject to terms of 2/10, 1/30. FOB shipping. The
i need help with FOB SHIPPING
15. Merchandise with an invoice price of $14,000 is sold subject to terms of 2/10, 1/30. FOB shipping. The seller prepaid $148 for the cost of transportation How much does the seller record in the Sales account at the time of the sale? 16 A sales invoice included the following information merchandise price, $50,000; transportation, $2,100; terms 2/10, 1/30, FOB destination. Assuming that merchandise that cost $3,300 is returned before it has been paid for, that the transportation is paid by the seller, and that the invoice is paid within the discount period, what is the amount of cash that buyer pays the seller? 17. A sales invoice included the following information: merchandise price, $67,800; transportation, $1,800; terms 1/10,n/30, FOB shipping. Assuming that merchandise that cost $4,200 is returned before it has been paid for that the transportation is prepaid by the seller, and that the invoice is paid within the discount period, what is the amount of cash that buyer pays the seller? $ 18 A company has 22 units in inventory at the beginning of May and paid $65 for each unit, On May 2, the company buys 27 more units and pays $67 for each unit. On May 5, the company sells 34 units for $99 each. If the company maintains its inventory using LIFO, what is the cost of merchandi sold Step by Step Solution
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