The initial price in this scenario is > sh 276000 and was therefore sold at a loss.
What is Loss?
This is a situation in which the selling price of goods or services is lower than the cost price.
We were told that the selling price is sh 276000 which is less than the initial(cost) price hence he ran at a loss during the business transaction.
Read more about Loss here https://brainly.com/question/5662414
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