Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized for You

we will pick new questions that match your level based on your Timer History

Track Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 500,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

At the beginning of last month, a stationery store had in [#permalink]

Show Tags

24 Oct 2009, 04:39

1

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

85% (hard)

Question Stats:

40% (02:02) correct
60% (01:03) wrong based on 112 sessions

HideShow timer Statistics

At the beginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of last month?

(1) Last month the store purchased 150 writing pads for $ 0.80 each. (2) Last month the total revenue from the sales of the writing pads was $180.

At the biginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of last month?

GMAT likes tricks.

We are asked to determine the cost of goods in the end of the month.

(1) Last month the store purchased 150 writing pads for $ 0.80 each --> cost of goods at the beginning of the month=0.75*250, plus 150*0.8 store purchased during the month, BUT as long as we don't know how many pads store sold last month we cannot determine the number of pads left at the end of the month. Not sufficient.

(2) Last month the total revenue from the sales of the writing pads was $180. Well this is clearly insufficient. Was any number purchased during the month? What was the selling price of a pad? Not sufficient.

(1)+(2) We know how many and at what price was purchased during the month, plus we are told the revenue was 180, but we don't know the selling price of one pad, thus cannot determine how many was sold and how many left.

At the biginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of last month?

GMAT likes tricks.

We are asked to determine the cost of goods in the end of the month.

(1) Last month the store purchased 150 writing pads for $ 0.80 each --> cost of goods at the beginning of the month=0.75*250, plus 150*0.8 store purchased during the month, BUT as long as we don't know how many pads store sold last month we can not determine the number of pads left at the end of the month. Not sufficient.

(2) Last month the total revenue from the sales of the writing pads was $180. Well this is clearly insufficient. Was any number purchased during the month? What was the selling price of a pad? Not sufficient.

(1)+(2) We know how many and at what price was purchased during the month, plus we are told the revenue was 180, but we don't know the selling price of one pad, thus can not determine how many was sold and how many left.

At the biginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of last month?

GMAT likes tricks.

We are asked to determine the cost of goods in the end of the month.

(1) Last month the store purchased 150 writing pads for $ 0.80 each --> cost of goods at the beginning of the month=0.75*250, plus 150*0.8 store purchased during the month, BUT as long as we don't know how many pads store sold last month we can not determine the number of pads left at the end of the month. Not sufficient.

(2) Last month the total revenue from the sales of the writing pads was $180. Well this is clearly insufficient. Was any number purchased during the month? What was the selling price of a pad? Not sufficient.

(1)+(2) We know how many and at what price was purchased during the month, plus we are told the revenue was 180, but we don't know the selling price of one pad, thus can not determine how many was sold and how many left.

Answer: E.

Is it necessary that a sale was made last month ?

(2) says: last month the total revenue from the sales of the writing pads was $180.
_________________

At the biginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of last month?

GMAT likes tricks.

We are asked to determine the cost of goods in the end of the month.

(1) Last month the store purchased 150 writing pads for $ 0.80 each --> cost of goods at the beginning of the month=0.75*250, plus 150*0.8 store purchased during the month, BUT as long as we don't know how many pads store sold last month we can not determine the number of pads left at the end of the month. Not sufficient.

(2) Last month the total revenue from the sales of the writing pads was $180. Well this is clearly insufficient. Was any number purchased during the month? What was the selling price of a pad? Not sufficient.

(1)+(2) We know how many and at what price was purchased during the month, plus we are told the revenue was 180, but we don't know the selling price of one pad, thus can not determine how many was sold and how many left.

Answer: E.

i am not sure about this. had the question mentioned revenue , your explanation would fit but it just asked for the amount spent. A gives that,

At the biginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of last month?

GMAT likes tricks.

We are asked to determine the cost of goods in the end of the month.

(1) Last month the store purchased 150 writing pads for $ 0.80 each --> cost of goods at the beginning of the month=0.75*250, plus 150*0.8 store purchased during the month, BUT as long as we don't know how many pads store sold last month we can not determine the number of pads left at the end of the month. Not sufficient.

(2) Last month the total revenue from the sales of the writing pads was $180. Well this is clearly insufficient. Was any number purchased during the month? What was the selling price of a pad? Not sufficient.

(1)+(2) We know how many and at what price was purchased during the month, plus we are told the revenue was 180, but we don't know the selling price of one pad, thus can not determine how many was sold and how many left.

Answer: E.

i am not sure about this. had the question mentioned revenue , your explanation would fit but it just asked for the amount spent. A gives that,

I was stumbled like the way you did and went wrong. But if you c the question ' What was the total amount spent by the store on the writing pads it had in stock at the end of last month?'

The question asks about the amount the store spent on books that were left at the end of the month, option A gives total amount spent on books that are initially available with the store. No information is given about the books present in the store at the end of the month. We need the number of books available with store at the end of the month. The store may/may not have sales in the month

At the biginning of last month, a stationery store had in stock 250 writing pads, which had cost the store $0.75 each. During the same month the store made only one purchase of writing pads. What was the total amount spent by the store on the writing pads it had in stock at the end of last month?

GMAT likes tricks.

We are asked to determine the cost of goods in the end of the month.

(1) Last month the store purchased 150 writing pads for $ 0.80 each --> cost of goods at the beginning of the month=0.75*250, plus 150*0.8 store purchased during the month, BUT as long as we don't know how many pads store sold last month we can not determine the number of pads left at the end of the month. Not sufficient.

(2) Last month the total revenue from the sales of the writing pads was $180. Well this is clearly insufficient. Was any number purchased during the month? What was the selling price of a pad? Not sufficient.

(1)+(2) We know how many and at what price was purchased during the month, plus we are told the revenue was 180, but we don't know the selling price of one pad, thus can not determine how many was sold and how many left.

Answer: E.

i am not sure about this. had the question mentioned revenue , your explanation would fit but it just asked for the amount spent. A gives that,

Question asks: What was the total amount spent by the store on the writing pads it had in stock at the end of last month?
_________________

Re: At the beginning of last month, a stationery store had in [#permalink]

Show Tags

13 Sep 2013, 13:57

Hi Bunuel, Just curious - why we're assuming that stored had sold some of the writing pads during the month? It's nowhere mentioned explicitly. Right..? In that way A should be the answer!

P.S: I know it's an official question so it has to be correct but I'm not able to get that properly. Please help me to connect that chord.
_________________

Re: At the beginning of last month, a stationery store had in [#permalink]

Show Tags

10 Oct 2013, 07:07

I have another question. Even if we had known how many pads were sold, could we calcuate the amount spend on pad at the end of the month. Because we bought 150 at different price and we sold 180. We do not know how many were from $0.80 stock.

Re: At the beginning of last month, a stationery store had in [#permalink]

Show Tags

07 Feb 2014, 05:26

AMITAGARWAL2 wrote:

I have another question. Even if we had known how many pads were sold, could we calcuate the amount spend on pad at the end of the month. Because we bought 150 at different price and we sold 180. We do not know how many were from $0.80 stock.

Thanks Amit

AMIT That's exactly it!

To summarize: So we know what the initial stock price is and we know that the store made only one purchase and know the total cost of the purchase. But we need to know about the pads sold. Now, if the store sold pads for 180 that's great but we still don't know what inventory remains since we have 2 different product costs (Remember FIFO and LIFO and all that stuff...). Well that's exactly it. Answer is E

Hope its clear now Cheers J

gmatclubot

Re: At the beginning of last month, a stationery store had in
[#permalink]
07 Feb 2014, 05:26

Hey, guys, So, I’ve decided to run a contest in hopes of getting the word about the site out to as many applicants as possible this application season...

Whether you’re an entrepreneur, aspiring business leader, or you just think that you may want to learn more about business, the thought of getting your Masters in Business Administration...

Whether you’re an entrepreneur, aspiring business leader, or you just think that you may want to learn more about business, the thought of getting your Masters in Business Administration...