Marks Bicycle Store placed an order for 25 mountain bikes at

Mark’s Bicycle Store placed an order for 25 mountain bikes at a billed cost of $500 and 40 ten-speed bikes at a billed cost of $390. Mark negotiated a cash discount of 5%. Shipping charges for the order amounted to $1,440 and workroom costs incurred were $515. What is the total cost of goods sold for the order

Solution

Total cost of good sold for the order

=(28100-1505)+1440+515

=28550

( For mountain bikes=25*$500=$12500

For ten-speed bikes=40*$390=$15600

Total=28100

Less-Discount=1405 )