The ____________________ price of merchandise is calculated by subtracting the amount of trade discount from the list price.
Fill in the blank(s) with correct word
Q. 2At the start of the year, Sandy's Flowers had inventory worth 587,200 at retail. On December 31, the retail value of the inventory was 137,700. If annual sales amounted to 2,899,600 find the inventory turnover at retail for the year. (Round your answer to the nearest tenth)
A) 8.0
B) 12.5
C) 4.9
D) 4.3
Q. 3Trade discounts are reductions from the manufacturer's suggested ____________________ price.
Fill in the blank(s) with correct word
Q. 4Kidz Korner had net sales of 3,001,680 for the year. If the beginning inventory at retail was 241,700 and the ending inventory at retail was 592,100, find the inventory turnover at retail. (Round your answer to the nearest tenth)
A) 2.5 Times
B) 5.1 Times
C) 7.2 Times
D) 12.4 Times
Q. 5Freight terms, FOB destination indicate that the ____________________ is responsible for the freight charges.
Fill in the blank(s) with correct word
Q. 6Winston, Inc had net sales of 754,800 for the year. If the beginning inventory at retail was 171,400 and the ending inventory at retail was 331,800, find the inventory turnover at retail. (Round your answer to the nearest tenth)
A) 1.5 Times
B) .8 Times
C) 3.0 Times
D) 1.9 Times
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