What amount should be remitted to the shoe manufacturer for the following merchandise? 24 pairs of...
What amount should be remitted to the shoe manufacturer for the
following merchandise?
24 pairs of hiking boots $64.00 list price
18 pairs of fishing boots at $10.00 list price
16 pairs of water shoes 40.00 list price
The invoice is dated February 18 and paid on March 12. Trade
discounts are 40% and 10%. Terms are 8/10 EOM. FOB store. The
vendor has prepaid the transportation charges of $23.78. How much
should be remitted?
| a. |
$3976.00 |
|
| b. |
$2385.60 |
|
| c. |
$2170.82 |
|
| d. |
$1272.24 |
Homework Answers
| Ans. | Particulars | Amt.($) | |
| Hiking Boots | 1,536 | ||
| Fishing Boots | 180 | ||
| Water Shoes | 640 | ||
| Total Price | 2,356 | ||
| Less: Trade Disc. 40% | 942.40 | ||
| 1,413.60 | |||
| Less: Trade Disc. 10% | 141.36 | ||
| Amount Remitted | 1,272.24 | ||
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