A jewelry store sells diamond rings, silver charms, gold bracelets and pearl necklace. The proprietor Amanda usually sets a selling price for silver charms based on a markup on cost of 80%. Pearl necklaces have a markup og 60%. All other items are sold 100%. She buys gold bracelets for $125 each. Use this information. What is the selling price of a diamond ring that Amanda purchases for $1,400?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A jewelry store sells diamond rings, silver charms, gold bracelets and pearl necklace. The proprietor Amanda usually sets a selling price for silver charms based on a markup on cost of 80%. Pearl necklaces have a markup og 60%. All other items are sold 100%. She buys gold bracelets for $125 each. Use this information. What is the selling price of a diamond ring that Amanda purchases for $1,400?
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