Answered: A computer, originally priced at…

Business

Accounting

A computer, originally priced at $1,450, is marked down to $841. What is the percent markdown?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A computer, originally priced at $1,450, is marked down to $841. What is the percent markdown?

Expert Solution

Step 1

Percent markdown means the reduction in the original price by a specific percentage. It is normally done in order to make sales quickly.

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