Titan Tech sets price equal to cost plus 50%. Recently, Titan Tech charged a customer a price of $60 for an item. What was the cost of the item to Titan Tech? A. $35.00 B. $40.00 C. $45.00 D. $50.00

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 1PA: When prices are rising (inflation), which costing method would produce the highest value for gross...
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Titan Tech sets price equal to cost plus 50%. Recently, Titan Tech
charged a customer a price of $60 for an item. What was the cost of the
item to Titan Tech?
A. $35.00
B. $40.00
C. $45.00
D. $50.00
Transcribed Image Text:Titan Tech sets price equal to cost plus 50%. Recently, Titan Tech charged a customer a price of $60 for an item. What was the cost of the item to Titan Tech? A. $35.00 B. $40.00 C. $45.00 D. $50.00
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