Answer:
The approximate total cost of sales for next week will be $1,267.86
Explanation:
Hi, all we need to do is use the following formula
[tex]Price(1)=Price(o)*(1+increase)[/tex]
Where:
Price(1)= The price of next week
Price(o)= Current price ($1,243)
increase= increase percentage (in our case, 2% or 0.02)
All should look like this.
[tex]Price(1)=1,243*(1+0.02)=1,267.86[/tex]
So, the cost of sales for next week will be $1,267.86
Best of luck.
