Question

On October 29, 2017, Lobo Co. began operations by purchasing razors for resale. For the transaction on Nov. 11, where 80 razors were sold for $7,200 cash, what is the total revenue?

(a) $7,200
(b) $14,400
(c) $21,600
(d) $28,800

Answer 1

The total revenue is calculated by multiplying the price per unit by the number of units sold. In this case, the total revenue for selling 80 razors for $7,200 cash is D) $7,200.

Step-by-step explanation:

To calculate the total revenue, we need to multiply the price per unit by the number of units sold. In this case, 80 razors were sold for $7,200 cash. So the total revenue is:

Total Revenue = Price per Unit x Number of Units Sold

Total Revenue = $7,200

Therefore, the correct answer is (a) $7,200.