A patio set cost a retailer $419.00 less 25 3/4%, 18%, 7%. Markup is of the regular selling price. Dur the end-of-season sale, the is marked down (a) What is the end-of-season sale price? (b) What rate of markup based on cost will be realized during the sale?
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- When prices are rising (inflation), which costing method would produce the highest value for gross margin? Choose between first-in, first-out (FIFO); last-in, first-out (LIFO); and weighted average (AVG). Evansville Company had the following transactions for the month. Calculate the gross margin for each of the following cost allocation methods, assuming A62 sold just one unit of these goods for $10,000. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000When prices are falling (deflation), which costing method would produce the highest gross margin for the following? Choose first-in, first-out (FIFO); last-in, first-out (LIFO); or weighted average, assuming that B62 Company had the following transactions for the month. Calculate the gross margin for each of the following cost allocation methods, assuming B62 sold just one unit of these goods for $400. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
- 1. Maintained markup is 42 percent, gross sales are 32,000 O.R, and reductions are 5,000 O.R. What is the initial markup as a percentage? Show calculations: 2. Zara retailer buys each SKU of “Winter Jacket” from its supplier for 80 O.R. and sets a markup percentage of 33.33%, calculate the suggested retail price for this SKU? Show calculations:A coat cost a retailer $402.00 less 13%, 17%, 2.25%. It carries a regular selling price on its price tag at a markup of 94% of the regular selling price. During the end-of-season sale, the coat is marked down 18%. What is the end-of-season sale price? The answer is 3,877.96 I need intermediate calculation and some explainEquate Inc. sells products with a cost of $25,000 during the year to customer for $55,000. It is Equate’s policy to accept returns up to 60 days after the date of purchase. Equate estimates that there is a 60% probability that returns will be 3% of sales and a 40% probability that returns will be 2.5% of sales. What is the transaction price under a) expected value method b) most likely amount method? Choices: A: $53,460 B: $53,350 A: $53,350 B: $53,460 A: $53,460 B: $54,450 A: $54,450 B: $53,460 A: $53,350 B: $53,350
- Let's say a retail outlet sells a seasonal product for $10 per unit. The cost of the productis $8 per unit. All units not sold during the regular season are sold for half the retailprice in an end-of-season clearance sale. Assume that demand for the product isuniformly distributed between 200 and 800. (please answer a-c) thank you a. What is the recommended order quantity?b. What is the probability that at least some customers will ask to purchase the product after the outlet is sold out? That is, what is the probability of a stock-out using your order quantity in part (a)?c. To keep customers happy and returning to the store later, the owner feelsthat stock-outs should be avoided if at all possible. What is your recommended orderquantity if the owner is willing to tolerate a 0.15 probability of a stock-out?The following is Cullumber Company’s income statement for the past year. Sales revenue $336,000 Cost of goods sold 134,400 Gross margin 201,600 Operating expenses 145,600 Operating income $56,000 If the company wants to sell a new product that costs $49 wholesale while keeping the same markup structure, what will be the price of the new product? (Use the gross margin percentage and round final answer to 2 decimal places, e.g. 25,124.25.) Price of the new product $enter the price of the new product in dollars rounded to 2 decimal placesThe retailer price of a refrigiretor is £807. If the manufacturer gains 11%, the wholesale dealer gains 10% and the retailer gains 6%, what is the cost of the product? Round your answer to the nearest penny.
- Seven Sea Corporation sells Ovens for an average of OMR 50, and which cost OMR 25. This is a cost-to-retail percentage of 80%. Seven seas beginning inventory has a cost of OMR 80,000. It paid OMR 85,000 for purchases during the month, and it had sales of OMR 150,000. Calculate the ending inventory by following Retail inventory method. a. OMR 45000 b. None of the given options c. OMR120000 d. OMR 165000A company wishes to establish an EOQ for an item for which the annual demandis $800,000, the ordering cost is $32, and the cost of carrying inventory is 20%.Calculate the following:a. The EOQ in dollars.b. Number of orders per year.c. Cost of ordering, cost of carrying inventory, and total cost.d. How do the costs of carrying inventory compare with the costs of ordering?The Kidz Klothing store ordered a line of snowsuits at $60 each, less a trade discount of 8%. The selling price is marked up to allow for overhead expenses of 15% of the cost price, and profit of 25% of the cost price. a) What was the regular selling price of the snowsuits? b) If the snowsuits are sold for a reduced price of $59, what is the profit or loss perpair? c) What is the rate of markdown of the snowsuits?