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Question
A souvenir vendor purchased 1,000 shirts for a special event at a price of 5USD each. The vendor sold 600 of the shirts on the day of the event for 12USD each and 300 of the shirts in the week following the event for 4USD each. The vendor was unable to sell the remaining shirts. What was the vendor's gross profit on the sale of these shirts?
Answer Choices
- A.1,000USD
- B.2,200USD
- C.2,700USD
- D.3,000USD
- E.3,400USD
Steps
| Explanation | Calculations | Help |
|---|---|---|
We calculate the total cost by translating the purchase statement using the cost formula. | Theory & Tactics Method Card TRANS3-B Click to view full details | |
We calculate the revenue from shirts sold on the day of the event by translating that sales statement. | Theory & Tactics Method Card TRANS3-B Click to view full details | |
We calculate the revenue from shirts sold in the week following the event by translating that sales statement. | Theory & Tactics Method Card TRANS3-B Click to view full details | |
We add the two revenue streams to find total revenue. | ||
We calculate gross profit by applying the profit formula. | Theory & Tactics Method Card TRANS3-A Click to view full details |
Scroll horizontally to view all columns
Final Answer
3,400USD
Question
A souvenir vendor purchased 1,000 shirts for a special event at a price of 5USD each. The vendor sold 600 of the shirts on the day of the event for 12USD each and 300 of the shirts in the week following the event for 4USD each. The vendor was unable to sell the remaining shirts. What was the vendor's gross profit on the sale of these shirts?
Answer Choices
- A.1,000USD
- B.2,200USD
- C.2,700USD
- D.3,000USD
- E.3,400USD
Steps
| Explanation | Calculations | Help |
|---|---|---|
We calculate the total cost by translating the purchase statement using the cost formula. | Theory & Tactics Method Card TRANS3-B Click to view full details | |
We calculate the revenue from shirts sold on the day of the event by translating that sales statement. | Theory & Tactics Method Card TRANS3-B Click to view full details | |
We calculate the revenue from shirts sold in the week following the event by translating that sales statement. | Theory & Tactics Method Card TRANS3-B Click to view full details | |
We add the two revenue streams to find total revenue. | ||
We calculate gross profit by applying the profit formula. | Theory & Tactics Method Card TRANS3-A Click to view full details |
Scroll horizontally to view all columns
Final Answer
3,400USD