Solved: Freight Freight Terms Determine the amount to be paid in full settlement of each of two invoices (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar Merchandise Freight Paid by Seller Freight Terms $8,600 Returns and Allowances $100 b. 3,600 700 FOB shipping point, 1/10, 1/30 FOB destination, 2/10, 1/30 $1,600 800 b. $ Next > Calculator Solved: Freight an important aspect of the grocery retail business. Recent balance sheets for these three companies indicated the following merchandise inventory (in millions) information: Kracker Foodstuff Winston Corp. Inc. Stores Cost of merchandise sold $34,310.0 $34,675.0 $35,405.0 Inventory, beginning of year 1,993.7 2,131.8 1,598.6 Inventory, end of year 1,954.3 2,048.2 1,505.4 a. & b. Determine the inventory turnover and the number of days' sales in inventory (use 365 days and round to the nearest day) for the three companies. Round all interim calculations to one decimal place. For days' sales in inventory, round final answers to the nearest day, and for inventory turnover, round to one decimal place. Inventory Turnover Days' Sales in Inventory Company names days Kracker days Foodstuff days Winston Stores c. The inventory turnover ratios and days' sales in inventory are different for Kracker and Foodstuff. Winston Stores has a higher inventory turnover and a lower days' sales in inventory than Kracker and Foodstuff. These results suggest that Kracker and Foodstuff are less efficient than Winston Stores in managing inventory. d. If Kracker had Winston Stores' days' sales in inventory, how much additional cash flow would have been generated from the smaller inventory relative to its actual average inventory position? Round interim calculations to one decimal place and your final answer to the nearest million. million Next > Previous Submit Test for Grading