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The supplier’s price schedule is: a A minimum order of ,000: 1%. Mathematics for Retail Buying, Seventh Edition CD-ROM 23 49 Marie’s Book Shop received an invoice dated March 26 for books amounting to ,500, with terms of 2/10 EOM, anticipation permitted.

Indicate the amount to be remitted if payment is made on April 10.

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a What was the dollar amount of returns and allowances? Mathematics for Retail Buying, Seventh Edition CD-ROM 2 3 The net sales of Department X were $46,780. 9 Discussion Problem: Explain why a merchant should be alarmed if customer returns are excessive. Mathematics for Retail Buying, Seventh Edition CD-ROM 8 Discounts Practice Problems 17 The Robner Electronic Company lists a top-of-the-line answering machine for $175. Competitor B offers a similar model at $760 with a 15% discount. A retailer’s order of bone china luncheon sets amounted to $2,800.

What were the dollar net sales for each department? 18 A guitar manufacturer sells electric guitars at $450 less 30% and 10%. 19 Dealer A sells stereo sets for $975 with a 30% trade discount. Mathematics for Retail Buying, Seventh Edition CD-ROM 9 20 The quantity discount schedule of a china importer is 0.5% discount on orders for $1,000, 1% discount on orders for $1,500, 1.5% discount on orders for $2,500, and 2% discount on orders for $3,000.

The juniors’ dress department had net sales of $8,250,000, and the misses’ dress department had net sales of $24,750,000.

b Compare this year’s results to last year’s performance. 7 For this year, Store G’s sales volume was 0,000,000.What is the last date for taking the discount if terms are 7/10 ROG? The retail value of the merchandise received in the store on April 28 was

b Compare this year’s results to last year’s performance. 7 For this year, Store G’s sales volume was $550,000,000.What is the last date for taking the discount if terms are 7/10 ROG? The retail value of the merchandise received in the store on April 28 was $1,800.52 An invoice for $2,300 has terms of 2/10–30X, net 60, FOB factory, anticipation permitted. The invoice was dated August 29 and was paid on September 24. Mathematics for Retail Buying, Seventh Edition CD-ROM 25 53 The infants’ and nursery department receives an invoice for merchandise with a list price value of $10,750. Terms are 2/10 EOM, FOB store, with trade discounts of 40% and 10%. How much should have been remitted to the resource if the bill was paid on May 6?Mathematics for Retail Buying, Seventh Edition CD-ROM 5 Cost of Merchandise Sold Practice Problems 11 The petite sportswear buyer placed the following order: 36 pants costing $10.75 each. The billed cost of merchandise sold amounted to $59,000, with cash discounts earned of $1,180, and freight charges of $650. 14 A specialty dress shop made purchases amounting to $3,700 at cost, with 8% cash discounts earned, workroom costs of $100, and no inward freight. Mathematics for Retail Buying, Seventh Edition CD-ROM 7 15 A sporting goods buyer placed the following order: 18 nylon backpacks costing $22 each. 25 A gift store received an invoice in the amount of $8,200, which represents the manufacturer’s suggested retail price. Mathematics for Retail Buying, Seventh Edition CD-ROM 14 31 An electronics retailer buys 3 color TV sets that list for $725 each and is billed with trade discounts of 20% and 10%. 32 Your department receives an invoice dated October 10 in the amount of $6,750. Mathematics for Retail Buying, Seventh Edition CD-ROM 33 Merchandise that amounts to $650 at cost is shipped and invoiced on August 14. The lamps were shipped and billed on October 18 and were received October 22. Terms were 7/10 EOM and anticipation was permitted. What amount must be remitted if the bill is paid on July 12? 45 An invoice dated August 28 carrying terms of 4/10–90X is paid on October 8. If the billed amount is $875, what should be the remittance? What is the loaded cost when the buyer requested an 8% cash discount?The invoice also shows that a trade Mathematics for Retail Buying, Seventh Edition CD-ROM 11 discount of 45% is allowed, as well as a 2% cash discount. 26 A sporting goods buyer purchased 50 individual golf clubs of one style that cost $35 each. How much must be paid on November 10 if terms are: a 10/10, net 30. 43 An invoice for $4,500 is dated and received on March 15, along with the merchandise it covers. If the bill is paid on March 25, how much should be remitted? Mathematics for Retail Buying, Seventh Edition 21 CD-ROM 22 46 An invoice for $1,800 dated August 10 is paid on August 20. 47 An invoice was received by Grandma’s Closet in the amount of $2,100, with terms of 2/10–30X, n/90.Practice Problems for Review 50 An invoice for a shipment of luggage is dated September 27 and is paid on October 25.

||b Compare this year’s results to last year’s performance. 7 For this year, Store G’s sales volume was $550,000,000.

What is the last date for taking the discount if terms are 7/10 ROG? The retail value of the merchandise received in the store on April 28 was $1,800.

52 An invoice for $2,300 has terms of 2/10–30X, net 60, FOB factory, anticipation permitted. The invoice was dated August 29 and was paid on September 24. Mathematics for Retail Buying, Seventh Edition CD-ROM 25 53 The infants’ and nursery department receives an invoice for merchandise with a list price value of $10,750. Terms are 2/10 EOM, FOB store, with trade discounts of 40% and 10%. How much should have been remitted to the resource if the bill was paid on May 6?

Mathematics for Retail Buying, Seventh Edition CD-ROM 5 Cost of Merchandise Sold Practice Problems 11 The petite sportswear buyer placed the following order: 36 pants costing $10.75 each. The billed cost of merchandise sold amounted to $59,000, with cash discounts earned of $1,180, and freight charges of $650. 14 A specialty dress shop made purchases amounting to $3,700 at cost, with 8% cash discounts earned, workroom costs of $100, and no inward freight. Mathematics for Retail Buying, Seventh Edition CD-ROM 7 15 A sporting goods buyer placed the following order: 18 nylon backpacks costing $22 each. 25 A gift store received an invoice in the amount of $8,200, which represents the manufacturer’s suggested retail price. Mathematics for Retail Buying, Seventh Edition CD-ROM 14 31 An electronics retailer buys 3 color TV sets that list for $725 each and is billed with trade discounts of 20% and 10%. 32 Your department receives an invoice dated October 10 in the amount of $6,750. Mathematics for Retail Buying, Seventh Edition CD-ROM 33 Merchandise that amounts to $650 at cost is shipped and invoiced on August 14. The lamps were shipped and billed on October 18 and were received October 22. Terms were 7/10 EOM and anticipation was permitted. What amount must be remitted if the bill is paid on July 12? 45 An invoice dated August 28 carrying terms of 4/10–90X is paid on October 8. If the billed amount is $875, what should be the remittance? What is the loaded cost when the buyer requested an 8% cash discount?

The invoice also shows that a trade Mathematics for Retail Buying, Seventh Edition CD-ROM 11 discount of 45% is allowed, as well as a 2% cash discount. 26 A sporting goods buyer purchased 50 individual golf clubs of one style that cost $35 each. How much must be paid on November 10 if terms are: a 10/10, net 30. 43 An invoice for $4,500 is dated and received on March 15, along with the merchandise it covers. If the bill is paid on March 25, how much should be remitted? Mathematics for Retail Buying, Seventh Edition 21 CD-ROM 22 46 An invoice for $1,800 dated August 10 is paid on August 20. 47 An invoice was received by Grandma’s Closet in the amount of $2,100, with terms of 2/10–30X, n/90.

Practice Problems for Review 50 An invoice for a shipment of luggage is dated September 27 and is paid on October 25.

||b Compare this year’s results to last year’s performance. 7 For this year, Store G’s sales volume was $550,000,000.

What is the last date for taking the discount if terms are 7/10 ROG? The retail value of the merchandise received in the store on April 28 was $1,800.

52 An invoice for $2,300 has terms of 2/10–30X, net 60, FOB factory, anticipation permitted. The invoice was dated August 29 and was paid on September 24. Mathematics for Retail Buying, Seventh Edition CD-ROM 25 53 The infants’ and nursery department receives an invoice for merchandise with a list price value of $10,750. Terms are 2/10 EOM, FOB store, with trade discounts of 40% and 10%. How much should have been remitted to the resource if the bill was paid on May 6?

Mathematics for Retail Buying, Seventh Edition CD-ROM 5 Cost of Merchandise Sold Practice Problems 11 The petite sportswear buyer placed the following order: 36 pants costing $10.75 each. The billed cost of merchandise sold amounted to $59,000, with cash discounts earned of $1,180, and freight charges of $650. 14 A specialty dress shop made purchases amounting to $3,700 at cost, with 8% cash discounts earned, workroom costs of $100, and no inward freight. Mathematics for Retail Buying, Seventh Edition CD-ROM 7 15 A sporting goods buyer placed the following order: 18 nylon backpacks costing $22 each. 25 A gift store received an invoice in the amount of $8,200, which represents the manufacturer’s suggested retail price. Mathematics for Retail Buying, Seventh Edition CD-ROM 14 31 An electronics retailer buys 3 color TV sets that list for $725 each and is billed with trade discounts of 20% and 10%. 32 Your department receives an invoice dated October 10 in the amount of $6,750. Mathematics for Retail Buying, Seventh Edition CD-ROM 33 Merchandise that amounts to $650 at cost is shipped and invoiced on August 14. The lamps were shipped and billed on October 18 and were received October 22. Terms were 7/10 EOM and anticipation was permitted. What amount must be remitted if the bill is paid on July 12? 45 An invoice dated August 28 carrying terms of 4/10–90X is paid on October 8. If the billed amount is $875, what should be the remittance? What is the loaded cost when the buyer requested an 8% cash discount?

,800.52 An invoice for ,300 has terms of 2/10–30X, net 60, FOB factory, anticipation permitted. The invoice was dated August 29 and was paid on September 24. Mathematics for Retail Buying, Seventh Edition CD-ROM 25 53 The infants’ and nursery department receives an invoice for merchandise with a list price value of ,750. Terms are 2/10 EOM, FOB store, with trade discounts of 40% and 10%. How much should have been remitted to the resource if the bill was paid on May 6?Mathematics for Retail Buying, Seventh Edition CD-ROM 5 Cost of Merchandise Sold Practice Problems 11 The petite sportswear buyer placed the following order: 36 pants costing .75 each. The billed cost of merchandise sold amounted to ,000, with cash discounts earned ofb Compare this year’s results to last year’s performance. 7 For this year, Store G’s sales volume was $550,000,000.What is the last date for taking the discount if terms are 7/10 ROG? The retail value of the merchandise received in the store on April 28 was $1,800.52 An invoice for $2,300 has terms of 2/10–30X, net 60, FOB factory, anticipation permitted. The invoice was dated August 29 and was paid on September 24. Mathematics for Retail Buying, Seventh Edition CD-ROM 25 53 The infants’ and nursery department receives an invoice for merchandise with a list price value of $10,750. Terms are 2/10 EOM, FOB store, with trade discounts of 40% and 10%. How much should have been remitted to the resource if the bill was paid on May 6?Mathematics for Retail Buying, Seventh Edition CD-ROM 5 Cost of Merchandise Sold Practice Problems 11 The petite sportswear buyer placed the following order: 36 pants costing $10.75 each. The billed cost of merchandise sold amounted to $59,000, with cash discounts earned of $1,180, and freight charges of $650. 14 A specialty dress shop made purchases amounting to $3,700 at cost, with 8% cash discounts earned, workroom costs of $100, and no inward freight. Mathematics for Retail Buying, Seventh Edition CD-ROM 7 15 A sporting goods buyer placed the following order: 18 nylon backpacks costing $22 each. 25 A gift store received an invoice in the amount of $8,200, which represents the manufacturer’s suggested retail price. Mathematics for Retail Buying, Seventh Edition CD-ROM 14 31 An electronics retailer buys 3 color TV sets that list for $725 each and is billed with trade discounts of 20% and 10%. 32 Your department receives an invoice dated October 10 in the amount of $6,750. Mathematics for Retail Buying, Seventh Edition CD-ROM 33 Merchandise that amounts to $650 at cost is shipped and invoiced on August 14. The lamps were shipped and billed on October 18 and were received October 22. Terms were 7/10 EOM and anticipation was permitted. What amount must be remitted if the bill is paid on July 12? 45 An invoice dated August 28 carrying terms of 4/10–90X is paid on October 8. If the billed amount is $875, what should be the remittance? What is the loaded cost when the buyer requested an 8% cash discount?The invoice also shows that a trade Mathematics for Retail Buying, Seventh Edition CD-ROM 11 discount of 45% is allowed, as well as a 2% cash discount. 26 A sporting goods buyer purchased 50 individual golf clubs of one style that cost $35 each. How much must be paid on November 10 if terms are: a 10/10, net 30. 43 An invoice for $4,500 is dated and received on March 15, along with the merchandise it covers. If the bill is paid on March 25, how much should be remitted? Mathematics for Retail Buying, Seventh Edition 21 CD-ROM 22 46 An invoice for $1,800 dated August 10 is paid on August 20. 47 An invoice was received by Grandma’s Closet in the amount of $2,100, with terms of 2/10–30X, n/90.Practice Problems for Review 50 An invoice for a shipment of luggage is dated September 27 and is paid on October 25.

||b Compare this year’s results to last year’s performance. 7 For this year, Store G’s sales volume was $550,000,000.

What is the last date for taking the discount if terms are 7/10 ROG? The retail value of the merchandise received in the store on April 28 was $1,800.

52 An invoice for $2,300 has terms of 2/10–30X, net 60, FOB factory, anticipation permitted. The invoice was dated August 29 and was paid on September 24. Mathematics for Retail Buying, Seventh Edition CD-ROM 25 53 The infants’ and nursery department receives an invoice for merchandise with a list price value of $10,750. Terms are 2/10 EOM, FOB store, with trade discounts of 40% and 10%. How much should have been remitted to the resource if the bill was paid on May 6?

Mathematics for Retail Buying, Seventh Edition CD-ROM 5 Cost of Merchandise Sold Practice Problems 11 The petite sportswear buyer placed the following order: 36 pants costing $10.75 each. The billed cost of merchandise sold amounted to $59,000, with cash discounts earned of $1,180, and freight charges of $650. 14 A specialty dress shop made purchases amounting to $3,700 at cost, with 8% cash discounts earned, workroom costs of $100, and no inward freight. Mathematics for Retail Buying, Seventh Edition CD-ROM 7 15 A sporting goods buyer placed the following order: 18 nylon backpacks costing $22 each. 25 A gift store received an invoice in the amount of $8,200, which represents the manufacturer’s suggested retail price. Mathematics for Retail Buying, Seventh Edition CD-ROM 14 31 An electronics retailer buys 3 color TV sets that list for $725 each and is billed with trade discounts of 20% and 10%. 32 Your department receives an invoice dated October 10 in the amount of $6,750. Mathematics for Retail Buying, Seventh Edition CD-ROM 33 Merchandise that amounts to $650 at cost is shipped and invoiced on August 14. The lamps were shipped and billed on October 18 and were received October 22. Terms were 7/10 EOM and anticipation was permitted. What amount must be remitted if the bill is paid on July 12? 45 An invoice dated August 28 carrying terms of 4/10–90X is paid on October 8. If the billed amount is $875, what should be the remittance? What is the loaded cost when the buyer requested an 8% cash discount?

The invoice also shows that a trade Mathematics for Retail Buying, Seventh Edition CD-ROM 11 discount of 45% is allowed, as well as a 2% cash discount. 26 A sporting goods buyer purchased 50 individual golf clubs of one style that cost $35 each. How much must be paid on November 10 if terms are: a 10/10, net 30. 43 An invoice for $4,500 is dated and received on March 15, along with the merchandise it covers. If the bill is paid on March 25, how much should be remitted? Mathematics for Retail Buying, Seventh Edition 21 CD-ROM 22 46 An invoice for $1,800 dated August 10 is paid on August 20. 47 An invoice was received by Grandma’s Closet in the amount of $2,100, with terms of 2/10–30X, n/90.

Practice Problems for Review 50 An invoice for a shipment of luggage is dated September 27 and is paid on October 25.

||b Compare this year’s results to last year’s performance. 7 For this year, Store G’s sales volume was $550,000,000.What is the last date for taking the discount if terms are 7/10 ROG? The retail value of the merchandise received in the store on April 28 was $1,800.52 An invoice for $2,300 has terms of 2/10–30X, net 60, FOB factory, anticipation permitted. The invoice was dated August 29 and was paid on September 24. Mathematics for Retail Buying, Seventh Edition CD-ROM 25 53 The infants’ and nursery department receives an invoice for merchandise with a list price value of $10,750. Terms are 2/10 EOM, FOB store, with trade discounts of 40% and 10%. How much should have been remitted to the resource if the bill was paid on May 6?Mathematics for Retail Buying, Seventh Edition CD-ROM 5 Cost of Merchandise Sold Practice Problems 11 The petite sportswear buyer placed the following order: 36 pants costing $10.75 each. The billed cost of merchandise sold amounted to $59,000, with cash discounts earned of $1,180, and freight charges of $650. 14 A specialty dress shop made purchases amounting to $3,700 at cost, with 8% cash discounts earned, workroom costs of $100, and no inward freight. Mathematics for Retail Buying, Seventh Edition CD-ROM 7 15 A sporting goods buyer placed the following order: 18 nylon backpacks costing $22 each. 25 A gift store received an invoice in the amount of $8,200, which represents the manufacturer’s suggested retail price. Mathematics for Retail Buying, Seventh Edition CD-ROM 14 31 An electronics retailer buys 3 color TV sets that list for $725 each and is billed with trade discounts of 20% and 10%. 32 Your department receives an invoice dated October 10 in the amount of $6,750. Mathematics for Retail Buying, Seventh Edition CD-ROM 33 Merchandise that amounts to $650 at cost is shipped and invoiced on August 14. The lamps were shipped and billed on October 18 and were received October 22. Terms were 7/10 EOM and anticipation was permitted. What amount must be remitted if the bill is paid on July 12? 45 An invoice dated August 28 carrying terms of 4/10–90X is paid on October 8. If the billed amount is $875, what should be the remittance? What is the loaded cost when the buyer requested an 8% cash discount?The invoice also shows that a trade Mathematics for Retail Buying, Seventh Edition CD-ROM 11 discount of 45% is allowed, as well as a 2% cash discount. 26 A sporting goods buyer purchased 50 individual golf clubs of one style that cost $35 each. How much must be paid on November 10 if terms are: a 10/10, net 30. 43 An invoice for $4,500 is dated and received on March 15, along with the merchandise it covers. If the bill is paid on March 25, how much should be remitted? Mathematics for Retail Buying, Seventh Edition 21 CD-ROM 22 46 An invoice for $1,800 dated August 10 is paid on August 20. 47 An invoice was received by Grandma’s Closet in the amount of $2,100, with terms of 2/10–30X, n/90.Practice Problems for Review 50 An invoice for a shipment of luggage is dated September 27 and is paid on October 25.

||The invoice also shows that a trade Mathematics for Retail Buying, Seventh Edition CD-ROM 11 discount of 45% is allowed, as well as a 2% cash discount. 26 A sporting goods buyer purchased 50 individual golf clubs of one style that cost $35 each. How much must be paid on November 10 if terms are: a 10/10, net 30. 43 An invoice for $4,500 is dated and received on March 15, along with the merchandise it covers. If the bill is paid on March 25, how much should be remitted? Mathematics for Retail Buying, Seventh Edition 21 CD-ROM 22 46 An invoice for $1,800 dated August 10 is paid on August 20. 47 An invoice was received by Grandma’s Closet in the amount of $2,100, with terms of 2/10–30X, n/90.

Practice Problems for Review 50 An invoice for a shipment of luggage is dated September 27 and is paid on October 25.

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