retailer selling goods to a customer for $88 and remitting $8 GST to the government.
Question
Retailer selling goods to a customer for 8 GST to the government.
Solution
In this scenario, we have a retailer who is selling goods to a customer for 8 as GST (Goods and Services Tax) to the government. Here's how this can be analyzed:
Understanding the Transaction
- The total amount paid by the customer is $88.
- Out of this total, $8 is the GST that the retailer is required to remit to the government.
Breakdown of the Cost
- To find out the price of the goods before tax, we can subtract the GST from the total amount paid by the customer:
Summarizing the Findings
- Total amount paid by the customer: $88
- GST remitted to the government: $8
- Price of the goods before GST: $80
Final Answer
The price of the goods before tax is $80.
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