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?
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- 2. An automobile GPS system is sold to stores at a wholesale price of $97. A popular store sells them for $179.99. What is the store's markup? 3. A CD storage rack is sold to stores at a wholesale price of $18. a. If a store has a $13 markup, what is the retail price of the CD rack? b. Find the percent increase of the markup to the nearest percent. 4. A bicycle sells for a retail price of b dollars from an online store. The wholesale price of the bicycle is w. a. Express the markup algebraically. b. Express the percent increase of the markup algebraically. pobiji baiAssume a jeweler paid $1,000 for a watch and sold it for $4,000. What would be his markup based on cost? Show calculations. What would be his markup based on selling price? Show calculations.A merchant buys a sweatshirt for $15 and has a dollar markup of $14.95. what is the retail price? $28.95 O $29.95 $30.95 $29.00
- GIVE PROPER EXPLANATION OF COST OF GOODS AND GROSS MARGIN. YOU MADE A SALE FOR $588,000. THE CUSTOMER PAID IN CASH. YOUR GROSS MARGIN IS 61%. WHAT IS YOUR COST OF GOODS SOLD?Barans Company purchased merchandise on account from a supplier for $9,200, terms 1/10, n/30. Barans returned $1,500 of the merchandise and received full credit. A. If Barans Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. $________________ B. What account is debited by Barans Company to record the return? Options are: 1. Accounts Payable 2. Accounts Receivable 3. Cash 4. Merchandise Inventory 5. Purchases 6. Sales 7. Sales Returns and AllowancesA company purchases merchandise for $23,000. The seller also offers credit terms of 2/10, n/30. Assuming no returns were made, and that payment was made within the discount period, what is the net cost of the merchandise?
