ABC company offers an item for RM 300 less 20% whilst XYZ company offers the same item for RM 320 less 40%. Find i. the net prices of the item offered by the two shops. ii. the further discount percentage that must be offered by the shop that sells at a higher net price in order to meet the competitor’s price.
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ABC company offers an item for RM 300 less 20% whilst XYZ company offers the same
item for RM 320 less 40%. Find
i. the net prices of the item offered by the two shops.
ii. the further discount percentage that must be offered by the shop that sells at a
higher net price in order to meet the competitor’s price.
Step by step
Solved in 2 steps
- Which of the following cases show(s) the situation(s) that the list price is higher than the net price after a deduction as stated on the sales invoice? 1. There is a trade discount of 5% given by the seller 2. There is a cash discount of 5% given by the seller 3. Some goods are returned to the supplierOne Corporation has two potentialsuppliers. Both are supplying the items atsimilar list prices and trade,discounts.However, Supplier A.offered a credit term of2/10, n/30 and the.other offered a term of3/10, n/40. Which of the following statementsis true? a. Alpha should choose Supplier A and pay on the 10th day.b. Alpha should choose Supplier B and pay on the 10th day.c. Alpha can choose either supplier and always pay on the 10th day.d. If Alpha chose Supplier B, the former should pay on the 30th day so that it can maximize the trade discount3. If a retailer bought n numbers of goods at P price each, he sold each good at a rater marked up on the selling price. Describe how to find the selling price and the gross margin for each good. How is the gross margin used in sales? 1S 4. After learning the concept of mark up, how would you assess your market value in terms of abilities? What can you do to increase your market value?
- Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller. Consider this case: Tasty Tuna Corporation buys on terms of 1/20, net 60 from its chief supplier. If Tasty Tuna receives an invoice for $1,254.98, what would be the true price of this invoice? (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) $1,553.04 $1,242.43 $1,056.07 O $931.82 The nominal annual cost of the trade credit extended by the supplier is calculations to four decimal places, and your final answer to two decimal places.) , assuming a 365-day year. (Note: Round all intermediate Suppose Tasty Tuna does not take advantage of the discount and then chooses to pay its supplier late-so that on average, Tasty Tuna will pay its supplier on the 65th day after the sale. As a result, Tasty Tuna can decrease its nominal cost of trade…Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller. Consider this case: Tasty Tuna Corporation buys on terms of 4/10, net 45 from its chief supplier. A. If Tasty Tuna receives an invoice for $856.75, what would be the true price of this invoice? (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) $822.48 $575.74 $699.11 $616.86 B. The nominal annual cost of the trade credit extended by the supplier is , assuming a 365-day year. (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) C. Suppose Tasty Tuna does not take advantage of the discount and then chooses to pay its supplier late—so that on average, Tasty Tuna will pay its supplier on the 50th day after the sale. As a result,…Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller. Consider this case: Free Spirit Industries Inc. buys on terms of 1/20, net 45 from its chief supplier. If Free Spirit receives an invoice for $1,254.98, what would be the true price of this invoice? (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) O $1,304.55 $1,056.07 $1,242.43 O $1,118.19 The nominal annual cost of the trade credit extended by the supplier is , assuming a 365-day year. (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) Suppose Free Spirit does not take advantage of the discount and then chooses to pay its supplier late-so that on average, Free Spirit will pay its by paying late. (Note: supplier on the 50th day after the sale. As a result, Free Spirit can…
- A electronic store lists an article for $ 862 less 6.1 %, 14.8% and 11.2%. A competitor carries the same article for $ 870 less 6.7% and 9.3% and promises to price match. What is the net price of the electronic store? O a. $ 612.39 O b. $ 618.07 O c. $ 707.57 O d. $ 729.45 O e. $ 594.01If a retailer bought n numbers of goods at P price each, he sold each good at a rate r marked up on the selling price. Describe how to find the selling price and the gross margin for each good. How is the gross margin used in sales?Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller. Consider this case: Tasty Tuna Corporation buys on terms of 1/10, net 30 from its chief supplier. If Tasty Tuna receives an invoice for $1,545.78, what would be the true price of this invoice? (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) $1,912.90 $1,377.29 $1,530.32 $1,071.22 The nominal annual cost of the trade credit extended by the supplier is , assuming a 365-day year. (Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.) Suppose Tasty Tuna does not take advantage of the discount and then chooses to pay its supplier late—so that on average, Tasty Tuna will pay its supplier on the 35th day after the sale. As a result,…
- buying and sellinga. A calculator is listed at P 859.50 and has a trade discount of 33 1/3 %; a) What is the amount of trade discount? b) What is the price paid for the calculator?b. ABC Company offers to fill an order for goods at P 25,800.00 less 25% and 25 %, terms n/30. On the other hand, XYZ Corporation offers P 25,000.00 less 35%, 3%, and 2%, terms 8/10, n/30: on the same order. Assuming that Mr Cruz will pay cash, which is the better offer?c. What is the total cash discount if an invoice dated March 31 for P 15,000 with a payment terms of 3/20; 1/30; n/60 is paid in full on April 20?d. A manufacturer bills a retailer P 25,000 for a brand new refrigerator, and further extends a trade discount of 18 %. What is the trade discount and the net price?e. The list price of a brand new flat screen tv set at Emcor is P 25,000. The item costs P 22,000. After negotiation the tv set was sold at 20,000. What are the initial markup price and the maintained markup price?Garcia Company is trying to decide whether to purchase identical inventory from one of the following suppliers. Cost Invoice terms Shipping terms Shipping cost Supplier A $280 1/10, n/30 FOB shipping point $28 Supplier B $290 2/10, n/30 FOB destination $30 Required: Assume the company will pay within the discount period. What is the actual cost of the inventory if purchased from each supplier?A large retailer obtains merchandise under the credit terms of 1/10, net 30, but routinely takes 60 dyas to pay its bills.(Because the retailer is an important customer, suppliers allow the firsm to stretch its credit terms.) What is the retailers effective cost of trade credit?