If merchandise sells for $3,500, with terms of 3/15,n/45, and the cost of the inventory sold is $2,100, the amount charged to sales is a. $3,395 b. $2,037 c. $3,500 d. $2,100 If the seller is to pay the freight costs of delivering merchandise, the delivery terms are stated as a. FOB seller b. FOB destination c. FOBn/30 d. FOB shipping point If title to merchandise purchases passes to the buyer when the goods are delivered to the buyer, the terms are a. FOB shipping point b. consigned c. n/30 d. FOB destination In a merchandising business, operating income plus operating expenses is equal to a. cost of merchandise sold b. gross profit c. cost of merchandise available for sale d. sales QUESTION 19 If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are a. FOB destination b. n/30 c. consigned d. FOB shipping point