Chapter 18.I, Problem 2RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

Use Exhibit 18-1 to determine the sales tax and calculate the total purchase price for the following items.

Selling |
Sales |
Total |
||||||

Item |
Price |
Tax |
Purchase Price |
|||||

2. | Candy bar | $.79 | _________ | ________ |

To determine

**To calculate:** The sales tax and total purchase price of Candy bar when the selling price is $0.79.

Explanation

**Given Information:**

The selling price of Candy bar is $0.79.

**Formula used:**

The steps to determine sales tax due on an item by using sales tax tables are as follows:

Step 1: Find the taxable retail price from the Amount of Sale column.

Step 2: Find the amount of tax due in the Tax column by scanning to the right.

The total purchase price is:

**Calculation:**

Consider the provided selling price of Candy bar is $0.79.

From the table Exhibit 18-1 given in the book, price of Candy bar, $0

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