Glenn Company purchased merchandise inventory with an invoice price of $9,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Glenn Company pays within the discount period?
A) $8,100
B) $8,280
C) $8,820
D) $9,000

Question

Quizplus · Accepted Answer

The discount is 2% of $9,000, which is $180. Therefore, the net cost if paid within the discount period is $9,000 - $180 = $8,820.

Glenn Company Purchased Merchandise Inventory with an Invoice Price of $9,000