Solved

Galaxy Wholesalers Purchased Inventory from a Local Manufacturer for $25,000

Question 1

Essay

Galaxy Wholesalers purchased inventory from a local manufacturer for $25,000.Galaxy marked up the price by 35% and sold the inventory to ABC Retailers.ABC marked up the inventory by a further 45% and sold the products to its customers.(Pre-GST costs are used to calculate the marked up prices.)
Required:
Calculate how much GST was remitted by:
A)Galaxy Wholesalers
B)ABC Retailers
(Round all amounts to zero decimal places.)

Correct Answer:

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