I need help with this math word problem.?
One morning Mickey snatched a fat wallet from a traveler
and left the airport to examine his loot.To his surprise he found
no credit cards but instead $500 in traveler’s checks.After 20
minutes of practice, Mickey could sign a perfect imitation of the
victim’s signature. He then proceeded to a large department
store where all suits were being sold for 75 percent of the regular price. Mickey purchased a suit for $225 and paid for it with
$300 in stolen traveler’s checks.After the clerk who served him
went to lunch, he bought another suit for $150 and paid for it
with the remaining $200 of stolen traveler’s checks. Later,
Mickey switched the labels on the two suits and, using the receipt from the $225 suit, returned the $150 suit at a centralized return desk for a refund.The refund clerk took the suit and
gave Mickey eleven $20 bills, which he stuffed into his pocket
When the department store deposited the traveler’s checks,
they were returned as forgeries. Assuming the store normally
sold suits at twice their wholesale price and used 10 percent of
sales as an overhead cost figure, what was the cash value of the
loss suffered by the store as a result of Mickey’s caper? Do not
consider taxes in your computations.
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