Business Math Purchasing and Inventory

A model NASCAR race car lists for $79.99.  Hobby Heaven purchased the model car for $47.99.  What is the trade discount rate that Hobby Heaven received (to the nearest tenth percent)?

• 32.0%
• 40.0%
• 60.0%
• 66.7%

Find the net price of 500 umbrellas if the unit cost is $6.50 and a trade discount of 12% is allowed.

• $2,860.00

• $440.00

• $3,900.00

• $3,250.00

A pair of jeans costs $34.00.  You have a coupon for 30% off the regular price. What is the new price of the jeans after you use your coupon?

• $10.20
• $23.80
• $31.00
• $44.20

Ms. Cardenas is decorating her new apartment. She found a table at Pier One for $426. If the table is 25% off, what is her discount?

• $106.50
• $106.05
• $319.50
• $319.95

List Price: $149.79

Chain Discount: 45/10

Find the net price

• $74.15

• $82.38

• $6.74

• $75.64

List Price: $219.49

Chain Discount: 45/10

Find the net price

• $120.72

• $110.84

• $108.65

• $9.87

An invoice from the Computer Store shows a net price of $18,166.40.

The terms are 4/10, n/30.

The invoice is dated July 12.

The invoice is paid July 20.

What is the last day to take the discount?

What is the last day to pay the invoice?

How much is paid on July 20?

How much would be paid on August 3?

• July 30, August 19, $17,440.86, $18,166.40

• July 12, August 11, $726.66, $17,439.74

• July 22, August 22, $17,439.74, $18,166.40

• July 20, August 19, $726.66, $18,166.40

On July 1, the Hat Rack started with an inventory of 370 hats. Shipments of 54, 67, and 52 were sent out on July 12, August 17, and September 12, respectively. Receipts of 63, 114, and 37 were received on July 20, August 25, and September 15, respectively. Find the number on hand as of September 15.

• 329

• 411

• 415

• 350

Records for Maxine's Beauty Supply show this opening balance and these units received for Ruby Red fingernail polish in December. At the end of the month, 12 bottles were on hand. What is the value of the ending inventory using the average-cost method?

• 17.28

• 17.88

• 17.16

The Peach Tree, a trendy clothing store, uses the FIFO method of valuing inventory. As of April 30, the Peach Tree has sold 145 belts. Use the FIFO method to calculate the cost of the 145 belts sold.

• 277.50

• 2717.50

• 2754.50

• 2856.50