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A sports store p customers for $ (a) What is the (b) What is the (c) What is the (a) The cost of (Round the fina (b) The markup (Round the fina

A sports store p customers for $ (a) What is the (b) What is the (c) What is the (a) The cost of (Round the fina (b) The markup (Round the fina

FINANCIAL ACCOUNTING
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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A sports store purchased tennis racquets for $55.79 less 25% for purchasing more than 100 items, and a further 35% was reduced for purchasing the racquets in October. The racquets were sold to customers for $57.85. (a) What is the cost of each racquet? (b) What is the markup as a percent of cost? (c) What is the markup as a percent of selling price? (a) The cost of each racquet is $ 27.20 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The markup as a percent of cost is%. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:A sports store purchased tennis racquets for $55.79 less 25% for purchasing more than 100 items, and a further 35% was reduced for purchasing the racquets in October. The racquets were sold to customers for $57.85. (a) What is the cost of each racquet? (b) What is the markup as a percent of cost? (c) What is the markup as a percent of selling price? (a) The cost of each racquet is $ 27.20 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The markup as a percent of cost is%. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
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