3. An electronic buyer needs a retail phones for the holiday season. If a markup of 60% is desired and the merchandise in stock already totals $22,3000 at retail and $9,875 at cost, what markup percentage will the buyer need to attain on the remaining purchases in order to achieve the desired 60% markup for the assortment? Total needs Purchases Balance Retail Cost Markup %
3. An electronic buyer needs a retail phones for the holiday season. If a markup of 60% is desired and the merchandise in stock already totals $22,3000 at retail and $9,875 at cost, what markup percentage will the buyer need to attain on the remaining purchases in order to achieve the desired 60% markup for the assortment? Total needs Purchases Balance Retail Cost Markup %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![3. An electronic buyer needs a retail value of $55,000 in cell
phones for the holiday season. If a markup of 60% is desired and
the merchandise in stock already totals $22,3000 at retail and
$9,875 at cost, what markup percentage will the buyer need to
attain on the remaining purchases in order to achieve the desired
60% markup for the assortment?
Total needs Purchases Balance
Retail
Cost
Markup %](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc798f2f1-44ea-41a8-b58e-c48ba8f86899%2F285b099f-e374-4b2c-b27e-19b365188439%2Fff0nwgk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3. An electronic buyer needs a retail value of $55,000 in cell
phones for the holiday season. If a markup of 60% is desired and
the merchandise in stock already totals $22,3000 at retail and
$9,875 at cost, what markup percentage will the buyer need to
attain on the remaining purchases in order to achieve the desired
60% markup for the assortment?
Total needs Purchases Balance
Retail
Cost
Markup %
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