1. The buyer plans to purchase $25,000 (retail) worth of children's coats for a back-to-school sale. He has already purchased 180 coats that cost $45 each and will retail for $80 each. What markup percent must be obtained on the balance of coats in order to average a 44.5% markup?
1. The buyer plans to purchase $25,000 (retail) worth of children's coats for a back-to-school sale. He has already purchased 180 coats that cost $45 each and will retail for $80 each. What markup percent must be obtained on the balance of coats in order to average a 44.5% markup?
2. During July, a buyer plans to buy gowns with a retail value of $10,000. She has purchased 150 gowns at $15 each that will retail for $35.00. What markup should she obtain on the remaining gowns in order to achieve a 47.5% markup goal?
Present your answer rounded to two decimal places, with a percent sign (i.e. 42.35%).
3. A menswear buyer needs 84 shirts to retail at $18 each and 52 pairs of slacks to retail at $35 each. He needs to average a 47.50% markup. If he pays $9.50 for each shirt, how much can he pay for each pair of slacks in order to achieve his planned markup percent?
Present your answer with a dollar-sign, comma separator, and rounded to the penny (i.e. $1,250.88).
4. A buyer plans to purchase 250 towels for the store's harvest sale and to retail each towel for $7.50. He has placed an order for 128 towels that cost $3.25 each. What is the most he can pay for each of the remaining towels if he wishes to average a 42% markup?
Present your answer with a dollar-sign, comma separator, and rounded to the penny (i.e. $1,250.88).
5. A buyer needs to average a 44% markup. She has purchased 25 flannel robes that cost $18.50 each and 32 fleece robes that cost $24 each. If she retails the flannel robes for $29 each, what must be the average retail for each fleece robe in order to achieve the planned markup?
Present your answer with a dollar-sign, comma separator, and rounded to the penny (i.e. $1,250.88).
6.
The sportswear department had an opening inventory of $95,000 at cost with a markup of 45.5% on March 1. During the month, the buyer for the department purchased additional merchandise with a retail value of $50,000 with a 48% markup. Calculate the cumulative markup percent for March.
Present your answer rounded to two decimal places, with a percent sign (i.e. 42.35%).
7. The opening inventory for the boys' department on March 1 was $150,000 at cost and $260,000 at retail. During the month, the department received merchandise that cost $95,000 with a 51% markup. Find the cumulative markup percent.
Present your answer rounded to two decimal places, with a percent sign (i.e. 42.35%).
8.
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