questions about merchandise sales problem

28. WHAT DOES THE CREDIT TERM 2/10 EOM INDICATE? 1A. 1B. 2% DISCOUNT IF PAID WITHIN 10 DAYS EOM 2% DISCOUNT IF PAID WITHIN 10 DAYS REC'D NONE OF THE ABOVE MERCHANDISE SALES PROBLEM: FACTS: A. $250,000 OF MERCHANDISE SOLD B. $20,000 OF SALES MERCHANDISE RETURNED C. $320,000 OF GOODS WERE PURCHASED DURING THE YEAR D. MERCHANDISE INVENTORY AT 1/1 WAS $150,000 E. MERCHANDISE INVENTORY AT 12/31 WAS $240,000 29. WHAT ARE THE COST OF GOODS AVAILABLE? 1A. 1B. 1C. 320,000 +150,000 320,000 +240,000 150,000 + 240,000 30. WHAT ARE THE COST OF GOODS SOLD? 1A. 1B. 1C. 150,000 + 320,000 - 240,000 320,000 + 90,000 NONE OF THE ABOVE 31. WHAT ARE THE NET SALES? 1A. 1B. 1C. 250,000 - 20,000 250,000 - 240,000 NONE OF THE ABOVE