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re: Help with riddle - How Much Money Did The Store Lose?

Posted on 12/11/23 at 11:16 am to
Posted by Hiyoka
Tokyo
Member since Oct 2008
1628 posts
Posted on 12/11/23 at 11:16 am to
Assumptions:

Sales tax: 10%
COGS: 25%

Store loses:
1. $30.00 cash (change given to thief)
2. $17.50 product COGS (25% of $70 purchased goods)
3. $7.00 sales tax
Total = $54.50

Amount of stolen $100 recovered = $45.50 (“profit” on $70 sales less $7 sales tax)

*the store could probably claim the theft as a write off and save their marginal tax rate so a few more dollars in year end taxes probably as well
This post was edited on 12/11/23 at 11:21 am
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