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question davies company purchased merchandise inventory with an invoice price of 7 5 4280521

Question

davies company purchased merchandise inventory with an invoice price of 7,5000 andcredit terms of 2/10, n/30. what is the net cost of the goods if the company pays within the discount period?

a. 7,5000

b. 7380

c. 7350

d. 6,000

the primary difference between a peeriodic and perpetual inventory system is that a periodic system:

a. keeps a record showing the inventory on hand at all time

b. provides better control over inventoires

c. records the cost of sale on the date the sale is made

d. determines the inventory on hand only at the end of the accounting period

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