$2$ Zoom Meeting

Class Exercise

Simon is comparing prices for an order for $300$ bicycles from three $(3)$ different Australian suppliers. $($The $300$ bicycles will fill a standard $20-$foot container.$)$ The problem is that the three $(3)$ firms have not quoted prices the same way. Firm A quoted EXW Murray Bridge, Australia at $$173\mathrm{.}00$ USD per bicycle. Firm B quoted FOB Port Adelaide, Australia at $$175\mathrm{.}00$ USD per bicycle. Firm C quoted CIF Vancouver, Canada at $$178\mathrm{.}00$ USD per bicycle. He is trying to compare the three prices and figure out what he is getting under each of the three terms. Hauling the container from the factory in Murray Bridge, Australia to the container port at Port Adelaide, Australia, and getting it loaded onto the ship will cost $$900$ AUD. $($The current exchange rate is $$0\mathrm{.}75$ USD to $$1\mathrm{.}00$ AUD.$)$ Ocean freight from Port Adelaide, Australia to Vancouver, Canada is $$1,000$ USD per $20-$foot container. For a shipment of this value, insurance is about $20\%$ of the cost of the freight. Which supplier offers the best deal?

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