PLZ HELP ASAP 20 POINS FOR CORRECT ANSWER!!!!!!! Jonson Works in a retail store and updates all the sales records by the end of
2 answers:
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Answer:
$523,800
Explanation:
Given parameters:
Cost price by buyer = $525000
Selling price by seller = $485000
Sales tax = 8%
Unknown:
The lowest selling price by the seller = ?
Solution:
To solve this business problem, we must understand that the price the seller would be will to part with will be his selling price and the percentage of sales tax incurred in the procurement.
This will be the minimum and least profitable estimated amount the seller is willing to sell at.
Lowest selling price = selling price by seller + amount of sales tax incurred
Sales tax amount = selling price x sales tax percentage
= $485000 x
= $38800
Lowest selling price = $485000 + $38800 = $523,800