Assume that markup is based on selling price. Calculate the dollar markup and cost. Note: Round your answers to the nearest cent. Item Canon scanner Selling price $ 72 Markup percent 30 % Dollar markup Cost
Assume that markup is based on selling price. Calculate the dollar markup and cost. Note: Round your answers to the nearest cent. Item Canon scanner Selling price $ 72 Markup percent 30 % Dollar markup Cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Explanation -
Markup Price -
Markup price is the difference between the Cost of the product and the selling price of the product.
Markup Percent is the percent calculated by dividing Dollar Markup by Selling Price.
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