Answer:
$63,630
Explanation:
Inventory turnover is the ratio that how many time a business has sold or replaced the inventory during a given period. A business is considered more profitable if it has high inventory turnover.
Average inventory is the average of opening inventory and closing inventory for the year.
Inventory Turnover = Cost of Goods Sold / Average Inventory
Average Inventory = Cost of Goods Sold / Inventory Turnover
Average Inventory = $432,687 / 6.8 = $63,630
Mattel, Inc. selects suppliers and obtains raw materials to make toys. The company is engaged in which function of marketing? Buying.
Mattel, Inc is in the buying process of marketing because they are finding suppliers to buy materials from for their products. Companies use other companies' products to finalize their product or service. They rely on other people to manufacture items for them they can use to produce and sell their item.
Answer:
Amount to be paid = $6,000
Explanation:
Trade discount is the reduction in the list price granted to a buyer. A 40% trade discount implies that Blue would have to pay only 60% of the list price.
The amount due for settlement = 10,000 - (40%× 10,000)= $6,000.
The term 2/10 implies that Jones is entitled to a cash a discount of 2% if it settles its invoice within 10 days following the invoice date. The deadline settlement date to receive the discount would therefore be August 6.
Since the account was settled on September 8 which is later than the deadline date set to qualify for the cash settlement discount, Blue would have to pay $6,000.
Amount to be paid = $6,000
