New York and Bulk Sales and Tax and Form

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```					Cash Purchases
Unit
Cash Purchases
 Sales Tax
 Total Purchase Price
 Figure the unit price
 Finding the best buy based on unit price
 Determine final price after coupon or
rebate
 Markdowns
 Compute sale price using markdowns
Sales Tax
 A charge by state and county on
purchases
 Usually expressed as a percent
 Certain items are “exempt” from sales tax
– Food
– Medicine
– Wholesale goods
Local Sales Tax rates (6/2003)
 All Taxes have a state component of
4.25%
 Cities have an option to charge and collect
their own sales tax or they can opt to
share a percentage of county taxes
Local Rates
County        State   County     Total

Saratoga       4.25%     3%      7.25%

Albany        4.25%     4%      8.25%

Rensselaer      4.25%     4%      8.25%

New York City    4.25%   4. 375%   8.625%
Calculations
   Sales Price x Tax Rate

   Note: A problem may ask you to break
down the sales tax per state, county and
city.
Problems
   P. 234 – 235
Total Purchase Price
   Total Purchase Price is equal to the selling
price plus the sales tax.

 Sales Price x Tax Rate = Sales Tax
 Total Selling price + Sales Tax = Total
Purchase Price

   Remember to round to the penny
Sales Receipts
 A Sales receipt is a proof of purchase
 In most cases, you need a receipt to
return an item
 Always check over the receipt before you
leave the store.
 Example 2 on p. 235
Unit Pricing
   Unit Pricing is a system that allows
shoppers to compare the prices of various
items.

   Ex: 55 paper plates is \$.77. What is the
cost per plate?
Unit Price
   Unit Price = price per item/count

   Ex: \$.77/55 = .014
Comparison Shopping
   Is it cheaper to buy in bulk? The package
with the lowest unit price is the best buy.
Assignment
 P. 238 1-26
 P. 239 – 240 1-18
Coupons and Rebates
   Coupon – piece of paper used for
immediate discount

   Rebate – mail in form for refund of
money. Usually requires UPC code and
copy of reciept
Formula
   Selling Price – Total Savings = final price

   Concept check 1 and 2, Problems 3-13
Where can you find coupons?
 Magazines
 Sunday Paper
 At the store
 Direct Mail
Store Specific Programs
 Dick’s Sporting Goods
 Price Chopper Card
 DSW Shoe Warehouse
 Staples, Office Max
 Freihofer’s outlet
 Brueggers
Consumer Report Article
 Review of Questions and class discussion
 Discussion of Tuesday’s project
Markdown
   Selling Price – Sale Price = Markdown

   Markdown Rate
Assignment

p 242 3 – 20
 p. 244 – 245 3-30

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