SOLUTION: Billington's buys shirts for $21 less 25% and 20%. The shirts are priced at a regular selling price to cover expenses of 20% of regular selling price and a profit of 17% of regular
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Question 992263: Billington's buys shirts for $21 less 25% and 20%. The shirts are priced at a regular selling price to cover expenses of 20% of regular selling price and a profit of 17% of regular selling price. For a special weekend sale, shirts are marked down 20%.
a) What was the operating profit or loss on the shirts sold during the weekend sale?
b) What rate of markup was realized based on cost?
Answers:
a) loss of $0.60
b) 26.9841%
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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