$100 8. $225 $297 $186 $198 Find the stock turnover at retail and at cost for the following. Round to the nearest hundredth. [8.4] Turnover Average Inventory at Cost at Cost $14,120 Average Inventory at Retail $25,572 Cost of Goods Sold $81,312 Retail Sales $146,528 Solve the following application problems. "0. Smart Phones, Inc. buys one model of smartphone, paying $2370 per case of 20 phones, Find the
$100 8. $225 $297 $186 $198 Find the stock turnover at retail and at cost for the following. Round to the nearest hundredth. [8.4] Turnover Average Inventory at Cost at Cost $14,120 Average Inventory at Retail $25,572 Cost of Goods Sold $81,312 Retail Sales $146,528 Solve the following application problems. "0. Smart Phones, Inc. buys one model of smartphone, paying $2370 per case of 20 phones, Find the
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
![Here is a transcription of the text from the image:
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**Find the stock turnover at retail and at cost for the following. Round to the nearest hundredth. [8.4]**
| Average Inventory at Cost | Average Inventory at Retail | Cost of Goods Sold | Retail Sales | Turnover at Cost | Turnover at Retail |
|---------------------------|-----------------------------|---------------------|-------------|------------------|-------------------|
| $14,120 | $25,572 | $81,312 | $146,528 | | |
**Solve the following application problems.**
10. **Smart Phones, Inc.** buys one model of smartphone, paying $2370 per case of 20 phones. Find the asking price for each, assuming a 40% markup on cost.
11. It cost a singer-songwriter $67,300 for all of the expenses to engineer, record, mix, and promote a new music disc. The cost also included the manufacturing of 5000 discs. Assume each disc sells for $20. Find (a) the markup in dollars, (b) the markup as a percent of cost to the nearest tenth of a percent, and (c) the markup as a percent of selling price to the nearest tenth of a percent.
12. **REI** buys jogging shorts manufactured in Indonesia for $195.00 per dozen pair. Find the selling price per pair if the retailer maintains a markup of 35% on selling price. [8.2]
**Restaurant Supply** sells a walk-in refrigerator for $5250 while using a markup of 25% on cost. Find the cost. [8.1]
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This transcription outlines various problems related to stock turnover, markups, and pricing strategies in retail and manufacturing contexts.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa3e89a5e-ae3f-4249-8851-d3a147e1ab63%2Fc265ee49-5d57-458f-95a4-4b958cde53c5%2F42jzei_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Here is a transcription of the text from the image:
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**Find the stock turnover at retail and at cost for the following. Round to the nearest hundredth. [8.4]**
| Average Inventory at Cost | Average Inventory at Retail | Cost of Goods Sold | Retail Sales | Turnover at Cost | Turnover at Retail |
|---------------------------|-----------------------------|---------------------|-------------|------------------|-------------------|
| $14,120 | $25,572 | $81,312 | $146,528 | | |
**Solve the following application problems.**
10. **Smart Phones, Inc.** buys one model of smartphone, paying $2370 per case of 20 phones. Find the asking price for each, assuming a 40% markup on cost.
11. It cost a singer-songwriter $67,300 for all of the expenses to engineer, record, mix, and promote a new music disc. The cost also included the manufacturing of 5000 discs. Assume each disc sells for $20. Find (a) the markup in dollars, (b) the markup as a percent of cost to the nearest tenth of a percent, and (c) the markup as a percent of selling price to the nearest tenth of a percent.
12. **REI** buys jogging shorts manufactured in Indonesia for $195.00 per dozen pair. Find the selling price per pair if the retailer maintains a markup of 35% on selling price. [8.2]
**Restaurant Supply** sells a walk-in refrigerator for $5250 while using a markup of 25% on cost. Find the cost. [8.1]
---
This transcription outlines various problems related to stock turnover, markups, and pricing strategies in retail and manufacturing contexts.
Expert Solution
Step 1
As per Bartleby guidelines, If multiple questions are posted, only the first 1 question will be answered for you. Kindly resubmit only the remaining questions to be solved
Asking Price = Cost + Markup % on cost
Given, each case contains 20 phones
Cost of 1 case = $ 2,370
Step by step
Solved in 2 steps
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