The school soccer team is selling chips to fundraise for new jerseys. If they charge $2.50 per bag of chips, how many bags would they need to sell in order to raise $1,000.00?

To raise $1,000.00, they would need to sell $1,000.00 / $2.50 per bag = <<1000/2.5=400>>400 bags of chips. Answer: \boxed{400}.