ABC Corporation purchased inventory from Galaxy Wholesalers.The cost on the invoice was $25,000.The inventory was marked up by 35% and sold to a retailer.The retailer subsequently marked the goods up 45% and sold the products to its consumers.(Pre-GST costs were used to calculate marked up prices.)
Required:
Calculate how much GST was collected and remitted by both the wholesaler and the retailer.

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The Answer of ABC Corporation purchased inventory from Galaxy Wholesalers.The cost on the invoice was $25,000.The inventory was marked up by 35% and sold to a retailer.The retailer subsequently marked the goods up 45% and sold the products to its consumers.(Pre-GST costs were used to calculate marked up prices.)
Required:
Calculate how much GST was collected and remitted by both the wholesaler and the retailer.

ABC Corporation Purchased Inventory from Galaxy Wholesalers