Question: Look back at Section 30-2. Cast Irons costs have increased from $1,000 to $1,050. Assuming there is no possibility of repeat orders, answer the following:

Look back at Section 30-2. Cast Iron’s costs have increased from $1,000 to $1,050. Assuming there is no possibility of repeat orders, answer the following:

a. When should Cast Iron grant or refuse credit?

b. If it costs $12 to determine whether a customer has been a prompt or slow payer in the past, when should Cast Iron undertake such a check?

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