Answered: Company C sets price equal to cost plus…

Company C sets price equal to cost plus 45%. Recently, Company C charged a customer a price of $87 for an item. What was the cost of the item to Company C?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

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Company C sets price equal to cost
plus 45%. Recently, Company C
charged a customer a price of $87
for an item. What was the cost of the
item to Company C?

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