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22 Oct 2018, 00:26
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On the first day of last month, a magazine seller had in stock 300 copies of Magazine X, costing $4 each. During the month, the seller purchased more copies of Magazine X. What was the total amount of inventory, in dollars, of Magazine X at the end of the month?
(1) The seller purchased 100 copies of Magazine X for $3.75 each during the month.
(2) The total revenue from the sale of Magazine X was $800 during the month.
(1) The seller purchased 100 copies of Magazine X for $3.75 each during the month.
(2) The total revenue from the sale of Magazine X was $800 during the month.
22 Oct 2018, 09:33
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Bunuel
On the first day of last month, a magazine seller had in stock 300 copies of Magazine X, costing $4 each. During the month, the seller purchased more copies of Magazine X. What was the total amount of inventory, in dollars, of Magazine X at the end of the month?
(1) The seller purchased 100 copies of Magazine X for $3.75 each during the month.
(2) The total revenue from the sale of Magazine X was $800 during the month.
(1) The seller purchased 100 copies of Magazine X for $3.75 each during the month.
(2) The total revenue from the sale of Magazine X was $800 during the month.
Stat1) states seller bought additional 100 x 3.75$ worth inventory during the month , but we do not know what happened with the month ie how much did he sell so as to calculate the amount of inventory at the end of the month, hence insuff
stat2) given amount of inventory sold but does not specifies how much was bought in hence, insuff
both , we know how much additional was bought and how much was sold hence we can find the total inventory ; it would be 300 x 4 + 100 x 3.75 - 800 = 775$
C
22 Oct 2018, 13:56
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doomedcat
Bunuel
On the first day of last month, a magazine seller had in stock 300 copies of Magazine X, costing $4 each. During the month, the seller purchased more copies of Magazine X. What was the total amount of inventory, in dollars, of Magazine X at the end of the month?
(1) The seller purchased 100 copies of Magazine X for $3.75 each during the month.
(2) The total revenue from the sale of Magazine X was $800 during the month.
(1) The seller purchased 100 copies of Magazine X for $3.75 each during the month.
(2) The total revenue from the sale of Magazine X was $800 during the month.
Stat1) states seller bought additional 100 x 3.75$ worth inventory during the month , but we do not know what happened with the month ie how much did he sell so as to calculate the amount of inventory at the end of the month, hence insuff
stat2) given amount of inventory sold but does not specifies how much was bought in hence, insuff
both , we know how much additional was bought and how much was sold hence we can find the total inventory ; it would be 300 x 4 + 100 x 3.75 - 800 = 775$
C
I suppose we are looking for the amount of inventory calculated in terms of the cost of magazines.
Formula should be: Initial inventory cost + cost of additional purchases - cost of sold magazines
We don't have the cost of sold magazines. How can we obtain the cost amount of inventory sold if (2) gives you only the revenues? We would need at least revenues quantity. Moreover we don't know if the seller sold the 4$ magazines or the 3.75$ ones.
