SOLUTION: A retail store realizes a markup of $31.50 if it sells an article at a markup of 35% of the selling price.
a) What is the regular selling price?
b) What is the cost?
c) What is
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Question 992268: A retail store realizes a markup of $31.50 if it sells an article at a markup of 35% of the selling price.
a) What is the regular selling price?
b) What is the cost?
c) What is the rate of markup based on cost?
d) If overhead expense is 28% of cost, what is the total cost?
e) If the article is sold at markdown of 24%, what is the operating profit or loss?
Answers:
a) $90
b) $58.50
c) 53.85%
d) $74.88
e) loss of $6.48
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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