At the beginning of last year, Tony's Auto dealership had 200 cars available for sale on the lot. The cars were acquired by Tony's at an average cost of $10,000 each. During last year, Tony's acquired an additional 50 cars. What was the total acquisition cost on the lot at Tony's at the end of the year?
1. The average cost per car of all cars acquired by Tony's last year was $12,500.
2. The total revenue from cars sold last year was $1,050,000.
IMO: E
What do we need to solve this Q?
a)No. of cars acquired at the end of the year.
b)Price/acquired car
St.1 Cars acquired last year = 200 + 50 = 250. No. of cars at the end and price per car is unknown. NS
St.2 This st. doesn't tell abt the information we required. We don't know how many cars sold and SP per car. NS
1. The average cost per car of all cars acquired by Tony's last year was $12,500.
2. The total revenue from cars sold last year was $1,050,000.
IMO: E
What do we need to solve this Q?
a)No. of cars acquired at the end of the year.
b)Price/acquired car
St.1 Cars acquired last year = 200 + 50 = 250. No. of cars at the end and price per car is unknown. NS
St.2 This st. doesn't tell abt the information we required. We don't know how many cars sold and SP per car. NS
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