Chapter 18.I, Problem 6RE

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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 |
|||||

6. | Backpack | $19.50 |

To determine

**To calculate:** The sales tax and total purchase price of Backpack when the selling price is $19.50.

Explanation

**Given Information:**

The selling price of Backpack is $19.50.

**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 Backpack is $19.50.

From the table Exhibit 18-1 given in the book, price of Backpack, $19

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