cost account A shoe store sells a pair of shoes for $89.95. The cost of the shoes to the store is$46.50.a What is the markup?b. What is the markup rate?

Given Data:Selling Price (SP): $89.95Cost Price (CP): $46.50 Part (a): What is the markup?Definition…

Answered: A shoe store sells a pair of shoes for…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 3A

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A shoe store sells a pair of shoes for $89.95. The cost of the shoes to the store is $46.50. a What is the markup? b. What is the markup rate?