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Ichitaka c
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Hi, I am currently doing a past final exam. I am stuck with this question. I know the answer is 15000 but I don't get how they got it. Can someone help me?
Thanks!
A grocery store has an average gross profit of 20% of sales, and its sales are $400,000 on average per month. The manager of the store is concerned about inventory shrinkage and wants to impress upon his employees how damaging this problem can be. If various inventory items costing $3,000 were stolen from the store, how much would sales have to increase in order to generate the same amount of gross profit?
a. $3,000.b. $3,600. c. $15,000.d. $80,000.
Thanks!
A grocery store has an average gross profit of 20% of sales, and its sales are $400,000 on average per month. The manager of the store is concerned about inventory shrinkage and wants to impress upon his employees how damaging this problem can be. If various inventory items costing $3,000 were stolen from the store, how much would sales have to increase in order to generate the same amount of gross profit?
a. $3,000.b. $3,600. c. $15,000.d. $80,000.