Question

A bedroom set lists for $7,000 and carries a trade discount of 20 percent. Freight (FOB shipping point) of $120 is not of the list price. Calculate the final price (also include cost of freight) of the bedroom set assuming terms of 2/10, n/30 ROG. The date of the invoice was july 10 with the goods being received August 11. The bill was paid on august 20

Answer 1

Answer:

The total price is $5720

Step-by-step explanation:

According to the given statement a bedroom set lists for $7,000 and carries a trade discount of 20 percent. Freight (FOB shipping point) of $120 is not of the list price.

A bedroom lists for = $7000

Discount = 20% = 0.2

Now multiply 7000 by 0.2 = 7000* 0.2 = 1400

It means the discount value was $1400

Now subtract 1400 from 7000 = 7000 - 1400 = $5600

Now to get the total price add 5600 with 120 we get,

$5600+120 = $5720

Thus the total price is $5720 .....