Question

Jones Manufacturing purchased $10,000 of merchandise inventory on account from a vendor and paid a $500 freight bill. The credit terms are 2/10 or n/30. Because some of the merchandise was not needed, Jones Manufacturing returned $2,000 the same day. Jones Manufacturing uses the perpetual inventory system and made payment for the merchandise, less the return, within the discount period. What is the final cost of the merchandise inventory for Jones Manufacturing from this purchase?
A: 8,000
B: $7,840
C: 8,340
D: $10,094

Answer 1

Answer:

What is the final cost of the merchandise inventory for Jones Manufacturing from this purchase?

C: 8,340

Explanation:

Purchase 10000

Return 2000

8000

discount % 2%

discount 160

Net payment 7840

Freigth 500

Final cost 8340