A store accidentally priced an item at $20 instead of $30 and honored the mispricing. where should the $10 difference

Question

Business

Ariel Murphy

14 September, 11:57

A store accidentally priced an item at $20 instead of $30 and honored the mispricing. where should the $10 difference

+5

Answers (2)

Know the Answer?

Rudy Little · Answer 1

On a store credit or cash which ever is easier

Esther Castaneda · Answer 2

The difference is attributed to sales.

Explanation:

The difference of $10 will be attributed to sales because $20 is charged instead of $30 which means selling price has been changed. However, it cannot be considered as a loss because the cost price is not given. It might be the actual cost price for the item is $15 and the store is selling at $20 instead of $30. So, in this case, the store is making a profit of $5. Thus, the difference is considered as the sale difference.