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 per pair? c) What is the rate of markdown of the snowsuits?
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 per pair? c) What is the rate of markdown of the snowsuits?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 per
pair?
c) What is the rate of markdown of the snowsuits?
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