Home Hardware paid $78 for a particular type of drill. Expenses are 14% of selling price and the required profit is 19% of selling price. Round ALL answers to the nearest cent if applicable. 1) What is the regular selling price? $ 2) What is the break-even selling price? $ 3) During an inventory sale, the drill was marked down 23% on the regular selling price. What is the sale price? $ 4) What is the operating profit or loss during the inventory sale (use a negative sign (-) for a loss)?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Home Hardware paid $78 for a particular type of drill. Expenses are 14% of selling price and the required profit is 19% of selling price. Round ALL answers to the nearest cent if applicable.

1) What is the regular selling price?

$

2) What is the break-even selling price?

$

3) During an inventory sale, the drill was marked down 23% on the regular selling price. What is the sale price?

$

4) What is the operating profit or loss during the inventory sale (use a negative sign (-) for a loss)?

$

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