The Patterson Corporation has received an invoice dated May 1^st for $4,000 with credit terms of 3/10, net 60. If the company pays on May 10^th day, how much will they need to pay?

Multiple Choice

• $120

• $400

• $3,000

• $3,880

• $4,000

Just in time inventory involves the following main component:

Multiple Choice

• Maximizing Turnover.

• Restocking inventory frequently.

• Supplier agreement.

• Essential component of larger production planning process.

• All of the above.

A fruit seller has apples to sell. They will be selling them to a vendor at the farmers market. The credit terms for this type of product will be long for this type of goods.

True or False