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re: Help with riddle - How Much Money Did The Store Lose?
Posted on 12/13/23 at 1:31 pm to dallastigers
Posted on 12/13/23 at 1:31 pm to dallastigers
quote:
What is the net loss to a store if someone uses a counterfeit $100 bill to purchase a $70 product with a cost of $50 and gets $30 in change back?
$80.
They got nothing in exchange for a product that cost them $50 and $30 real dollars.
I know people will rush in to say "but they could have sold that to someone else for $70. They will just sell an identical product to the next person for $70.
The loss is how much it set them back, not how much they potentially stood to earn on that item. The only exception is scarcity. If the item is something they cannot replace easily for the same price they attained the first one, the loss is higher
This post was edited on 12/13/23 at 1:35 pm
0
Posted on 12/13/23 at 5:09 pm to Corinthians420
quote:
What? They sold the item. The $100 was already stolen. Why would selling it to the thief make them never realize those gains if selling to a regular customer would
Nobody can be this dense. Youre just playing the contrarian at this point
The items were NEVER sold. The money they got for the purchase was their OWN. No new monies were exchanged in the transaction, from an outside source
The thief essentially stole items. He walked out with $70 in stolen items, and $30 out of the cash register. He gave the store ZERO dollars they they didnt already have. Thats how the transaction is different from a regular paying customer.
Once the thief gave them their $100, they were made whole. But when he walked out with $70 in merch and $30 in change, thats the point where the store was robbed. Again
Posted on 12/13/23 at 5:20 pm to Seaux_cal_tiger
quote:
How much money did the store lose?
depends on their margins
Posted on 12/13/23 at 7:00 pm to RobbBobb
quote:
The items were NEVER sold.
No one is saying the company is making money on this deal or any booked margin is really earned (if any margin on product as that wasn’t stated one way or the other).
A sales transaction did occur in the OP’s riddle (key is OP was a riddle and calculations are hypotheticals being debated).
If $70 was the marked up retail price of the purchased product what happened to that margin (say cost was $50)?
*Thief made $20 in taxable income
*Aliens took the $20
*reparations total went down $20
*Company had $20 added to another bucket on their ledger.
Posted on 12/13/23 at 7:52 pm to Seaux_cal_tiger
$100. You have crappy accountant friends.
Posted on 12/13/23 at 11:50 pm to dallastigers
quote:
what happened to that margin
There was no margin made, because there was no transaction
The store started $100 in the hole before any transaction occurred. Heres some help:
quote:
transaction - an occasion when someone buys or sells something, where money is exchanged for goods or services
quote:
exchange - reciprocal giving and receiving
At what point was there a reciprocal giving and receiving? Because the entire 'sale' was solely funded by the store.
Posted on 12/14/23 at 10:32 am to RobbBobb
quote:
At what point was there a reciprocal giving and receiving
When the thief gave the store a $100 and they gave him $30 change.
This post was edited on 12/14/23 at 10:38 am
Posted on 12/14/23 at 10:49 am to Seaux_cal_tiger
100 dollars plus the value of the goods
Posted on 12/14/23 at 10:53 am to WhiteMandingo
how the frick has this thread made it so long 
Posted on 12/14/23 at 10:57 am to Pedro
quote:
how the frick has this thread made it so long
Because the world is full of people that somehow think that if someone steals $100 from you, then gives u $70 back, u lost more than $100.
quote:
100 dollars plus the value of the goods
This post was edited on 12/14/23 at 10:59 am
Posted on 12/14/23 at 11:09 am to Seaux_cal_tiger
I'm now intrigued by the answer. I have young kids. Over the weekend they put on a puppet show...using my supplies and food as concession...then charged me/Mrs... Just trying to figure out how much I'm really out
Posted on 12/14/23 at 3:23 pm to Pedro
quote:
how the frick has this thread made it so long
This thread surpassed all my expectations! lol
Posted on 12/14/23 at 3:59 pm to Seaux_cal_tiger
The OT can argue about anything for days
Posted on 12/14/23 at 4:47 pm to Corinthians420
quote:
When the thief gave the store a $100
Dude, lay off the weed
He didnt "give" them anything. It was their $100, that he just handed back to them
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