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16 June, 06:48

Union Apparel has sales including sales taxes for the month of $552,000. If the sales tax rate is 6%, what are Union Apparel's sales for the month? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)

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  1. 16 June, 09:58
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    Union Apparel's sales for the month is $520,000

    Explanation:

    For computing the monthly sales excluding taxes, the calculation is shown below:

    = Sales including sales taxes * Sales : sales with sales tax

    where,

    1 is the sales value

    And, sales value with tax equals to

    = 1 + 6 % = 1 + 0.06 = 1.06

    Now, put these values to the above formula

    So, the value would be equal to

    = $552,000 * 1 : 1.06

    = $520,000

    Hence, Union Apparel's sales for the month is $520,000
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