7 A buver for the exclusive Britique Shop purchased 100 cashmere pullover sweaters at $31 each and priced them at $90 retail. Also planned is a' pur- chase of 72 chunky knit wool sweaters to retail at $120 each. Departmental goal markup is 67.5%. How much can be paid for each chunky knit wool sweater?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Please help . Show your work and formulas used so I can understand clearly 

7 A buver for the exclusive Britique Shop purchased 100 cashmere pullover
sweaters at $31 each and priced them at $90 retail. Also planned is a' pur-
chase of 72 chunky knit wool sweaters to retail at $120 each. Departmental
goal markup is 67.5%. How much can be paid for each chunky knit wool
sweater?
Transcribed Image Text:7 A buver for the exclusive Britique Shop purchased 100 cashmere pullover sweaters at $31 each and priced them at $90 retail. Also planned is a' pur- chase of 72 chunky knit wool sweaters to retail at $120 each. Departmental goal markup is 67.5%. How much can be paid for each chunky knit wool sweater?
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