Posted by Bae on .
1)The credit terms 2/10, n/30 are interpreted as?
2% cash discount if the amount is paid within 10 days, with the balance due in 30 days.
10% cash discount if the amount is paid within 2 days, with balance due in 30 days.
30% discount if paid within 2 days.
30% discount if paid within 10 days.
2% discount if paid within 30 days.
2) A company's net sales were $676,600, its cost of good sold was $236,810 and its net income was $33,750. Its gross margin ratio equals?
5%.
9.6%.
35%.
65%.
285.7%.
3)A company's warehouse was destroyed by a tornado on March 15. The following information was the only information that was salvaged:
(1.) Inventory, beginning: $28,000
(2.) Purchases for the period: $17,000
(3.) Sales for the period: $55,000
(4.) Sales returns for the period: $700
The company's average gross profit ratio is 35%. What is the estimated cost of the lost inventory?
$ 9,705.
$25,995.
$29,250.
$44,000.
$45,000.

Economics 
Writeacher,
Please understand that no one here will do your work for you. However, we will be happy to read over whatever you come up with and make suggestions and/or corrections.
Please post what you think. 
college 
Bae,
i pick
1)a
2)d
3)b
is these right