You place an order for 400 units of inventory at a unit price of P125. The supplier offers terms of 1/10, net 30. 1. f you take the full period, how much should you remit? 2. If you do take the discount, how much should you remit?
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A: Given information : Selling price : $286.22 Discount offered : 31%,15.5%,3%
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A: when you see an invoice that states '3/10 net 30', it means that customers can receive a 3% discount…
Q: You place an order for 250 units of inventory at a price of $130 per unit. The supplier offers terms…
A: Solution- (A) Days until Overdue=30 days Working notes- Offers term of 1/10, net 30, if we pay…
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A: credit terms: 3/10 - means 3% discount given if payment is made within 10 days
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A:
Q: The amount of discount to be recorded if the invoice is paid within the discount period on a…
A: Trade discount is that discount which is being given to all the customers on the list price of the…
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A: EOQ is that level of the unit that has a minimum logistic cost and that is economical for the…
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A: Inventory Cost = Purchase Cost + Ordering Cost + Carrying Cost EOQ = Squareroot of 2*Annual…
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A: Purchase return = Total purchases x 1/2 = $10,000 x 1/2 = $5,000
Q: 1 March 2019 was 400 units at a total cost of RM1,200. The sale price of ALGA per unit is RM7. The…
A: The FIFO stands for First in first out. Using this method, the old inventory is sold first and new…
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A: Discount on merchandise is given by the seller to buyer, when the seller repay the credit early or…
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A: Given, Invoice price = $13,100 Terms = 2/10, n/30
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A: Net profit on sale means the excess of selling price over cost of the product.
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A: Note: 1/10, net 90: Here, 1 represents the discount rate if payment is made within ten days. And if…
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A: Calculate discount amount: Discount amount = list price * trade discount rate Discount amount =…
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A: Economic order quantity shows the ideal order size for a company i.e. the most cost-effective order…
Q: Suppose a certain appliance store purchases the following items. Calculate the extended total after…
A: Trade discount is the discount given to customers on list price. This discount will not be recorded…
Q: When a sale is made with the credit terms of 2/10, net 30, the discount of ____% will be used if…
A: When a sale is made with the credit terms of 2/10, net 30, the discount of 2% will be used if paid…
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Q: Calculate the extended total after the trade discounts
A: Trade discount is the discount allowed by the manufacturer to the reseller. The discount is…
Q: You place and order for 100 units of inventory at a unit price of P 50.00. The supplier offers…
A: Trade discount is the discount one gets when purchasing large units of goods. So, discount is given…
Q: The Georgia Company sells inventory but also allows returns. Georgia sells items for $100 per item.…
A: The transaction, which is measurable in monetary terms, is an economic event with a third party…
Q: A Retailer purchased merchandise inventory with an invoice price of RO 80,000 and credit terms are…
A: The net cost of goods sold if payment made within discount period is 78,400 Net Cost of Goods…
Q: A firm uses an inventory item with the following characteristics. Cost per-item $ 6.00 Annual…
A: Answer - Calculation of number of reorders to be made each year: EOQ=√2DO / C =√2(1,000)(30) /…
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Q: What is the average age of inventory for Patsy if it has sales of P320,000, an average inventory of…
A: The average age of inventory is calculated as daus in year divided by inventory turnover ratio.
Q: A retailer buys merchandise from a supplier with an invoice amount of $12,800. The terms of the sale…
A: 6/20 net 30 means that 6 percent discount will be given if payment is made with in 20 days and no…
Q: If merchandise is sold on account to a customer for $1,000, terms FOB shipping point, 1/10, n/30,…
A: Lets understand the basics. Seller for attracting early payment, gives the discount term to the…
Q: You place an order for 470 units of inventory at a unit price of $175. The supplier offers terms of…
A: Number of units = 470 units Selling price per unit = $ 175 Sales revenue = 470 * $ 175 = $ 82250
Q: A supplier offers the following discounts: Trade discounts of 20% at list price and another cash of…
A: The amount paid after discount is calculated as difference between total invoice price and discount…
Q: ou can buy a product from one of three companies. Company A for $3,200 with a trade discount of 30%,…
A: This is a case of successive discounts. Successive discounts are discounts on discounts.
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A: Let the single discount equivalent to given trade discounts = d
Q: The rate of consumption of an item is 20 units per year. The cost of procurement (i.e. placing an…
A: The rate of consumption of an item is 20 units per year. The cost of procurement (i.e. placing an…
Q: An item listed for 4,000 has been given trade discounts of 30%, 20%, and 10% by the manufacturer. 1.…
A: Solution:- Trade discount means the amount of discount on the list price of a commodity.
Q: A manufacturer offers a 25/20 c discount if the invoice subtotal is $1,000. If the list price is $52…
A: Companies gives discount to attract the sales and increase the sales of company but that is the cost…
Q: if merchandise is sold on account to a customer for 1,000 terms fob shipping point 1/10, n/30, and…
A: Discount for early payment is allowed when the customer pays off an amount in a given time period as…
Q: Blossom Choice sells natural supplements to customers with an unconditional sales return if they are…
A: Cost of goods sold percentage = $1,350/$2,700 Cost of goods sold percentage = 50%
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- Given the following, calculate the net price of the purchase by a customer who buys 1,000 cases of product and pays the supplier within 15 days of shipment. What is the total percentage discount on the sale? Cost of product: $75.00 per case Trade discount: $5.00 per case Quantity discount: 1.5% for each 500 cases Performance allowance: 5% Cash discount: 2/10, net 30You place and order for 100 units of inventory at a unit price of P 50.00. The supplier offers terms of 3/30, net 90. How long do you have to pay before the account is overdue? If you take the full period, how much should you remit? How much is the discount offered? How quickly must you pay to get the discount? If you take the discount, how much should you remit? If you don’t take the discount, how much interests are you paying implicitly? How many days’ credit are you receiving?ClipClop Company sells horseshoes to customers at a discount of 4% if the customer orders more than 10,000 horseshoes in a year. The price per shoe is $2. In April, Oats Company orders 4,000 horseshoes from ClipClop. Based on past experience with Oats Company, ClipClop expects Oats to meet the volume threshold of 10,000 horseshoes by the end of the year. What amount of revenue should ClipClop record in connection with the April sale? $7,680 $20,000 $0 because ClipClop does not know if Oats will meet the volume discount threshold $8,000
- A chain of appliance stores, APP Corporation, purchases inventory with a net price of $350,000 each day. The company purchases the inventory under the credit terms of 1/15, net 30. APP always takes the discount but takes the full 15 days to pay its bills. What is the average accounts payable for APP? Round your answer to the nearest dollar.A customer is willing to order 100 cases listed at $20 per case to get a 15 percent quantity discount. Terms are 2/10, n/30, FOB destination. The customer pays five days after receiving the invoice. How much did the customer pay?A company stocks an item that is consumed at the rate of 50 units per day. It costs the company P20 each time an order is placed. An inventory unit held for a week will cost P0.35. (a) Determine the optimum inventory policy assuming a lead time of 1 week. (b) Determine the optimum number of orders per year (365 days a year).
- A retailer anticipates selling 4,050 units of its product at a uniform rate over the next year Each time the retailer places an order for a units, it is charged a flat fee of $75 Carrying costs are $27 per unit per year. How many times should the retailer reorder each vear and what should be the lot size to minimıze inventory costs? What 1s the minimum inventory cost? They should order units times a year. The minimum inventory cost is $ Get Help: Video eBookABC is deciding to give a cash discount of 1% if the customers pay on the tenth day. It originally offers a credit term of n/30. Without the cash discount, credit sales would be P6750000 with an average age of inventory of 27 days. With the cash discount, credit sales are forecasted to increase by15%, collections within the discount period is 40% and the average age will be 22 days. The variable cost rate is 60% while the effective interest rate that ABC uses for forecasting is 8%. Using the 360-day year, how much is the net benefit or cost of the new policy?A store sells a product that has the annual demand of 16,156 units. It purchases the product from supplier A for $74.4 per unit. The unit inventory carrying cost per year is 14 percent of the unit purchase cost. The cost to place and process an order from the supplier is $107 per order. Supplier A has a delivery lead time of 7 days. The store operates 300 days a year. Assume EOQ model is appropriate. What is the optimal total annual inventory and purchase cost for the store? Use at least 4 decimal places.
- A supplier sells MF Tires to dealers. The annual demand is approximately1,000 tires. The supplier pays P50 for each tire and estimates that the annualholding cost is 20 percent of the total value of tires. It costs approximatelyP25 to place an order. The supplier currently orders 80 tires per month.Required:a. Calculate ordering, holding, and total inventory costs for thecurrent ordered quantity.b. Determine the EOQ.c. How many orders will be placed per year using the EOQ?d. Calculate ordering, holding, and total inventory costs for the EOQand also determine the change in total inventory cost.JYP Store purchases shirts printed with GOT7 name and logo from a vendor. The vendor sells the shirts to the store for RM40 each. The cost to the store for placing an order is RM110, and the annual carrying cost is 20% of the cost of the shirt. Jackson, the store manager, estimates that 1,600 shirts will be sold during the year. The vendor has offered the store the following volume discount in Table 3. [Kedai JYP membeli baju yang di cetak dengan nama dan logo GOT7 dari pembekal. Pembekal menjual baju kepada kedai dengan harga RM40 sehelai. Kos untuk membuat tempahan ialah RM110, dan kos memegang tahunan ialah 20% dari harga kos sehelai baju. Jackson, pengurus kedai, menjangkakan sebanyak 1,600 baju akan dijual setahun. Pembekal menawarkan kepada kedai berdasarkan Jadual 3.] Table 3: Discount schedule [Jadual 3: Jadual diskaun] ORDER SIZE DISCOUNT 1 – 299 0% 300 – 500 2% 501 and more 4% Determine the best order size of shirts.GB Inc. sells 12,000 gallons of ice cream each month from its central storage facility. Monthly carrying costs are P0.10 per gallon and ordering costs are P50 per order. Ignore potential stockout costs and assume a 30-day month. What is the total inventory cost for the month? P346 per month P500 per month P1,000 per month P650 per month