SOLUTION: Sight and Sound bought large-screen colour TV sets for $1080.00 less 33.33...% and 8.33...%. Overhead is 18% of regular selling price and required profit is 15.33...% of regular se
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Question 992261: Sight and Sound bought large-screen colour TV sets for $1080.00 less 33.33...% and 8.33...%. Overhead is 18% of regular selling price and required profit is 15.33...% of regular selling price. The TV sets were marked at a price so that the store was able to advertise a discount of 25% while still maintaining its margin. To clear the inventory, the remaining TV sets were marked down 37.5%.
a) What operating profit or loss is realized at the clearance price?
b) What is the realized rate of markup based on cost?
Answers:
a) loss of $13.20
b) 25%
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
This is an accounting question. You are on the wrong website to get help with this type of work.
John
My calculator said it, I believe it, that settles it
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