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o's Shoes bought a shipment it a discount of 40%, and the r during the inventory sale?

o's Shoes bought a shipment it a discount of 40%, and the r during the inventory sale?

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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2. Aldo's Shoes bought a shipment of 200 pairs of women's shoes for $42 per pair. The store sold 120 pairs at the regular selling price of $125 per pair, 60 pairs at a clearance sale at a discount of 40%, and the remaining pairs during an inventory sale at a price that equals cost plus overhead. The store's overhead is 50% of cost. What was the selling price during the inventory sale?
Transcribed Image Text:2. Aldo's Shoes bought a shipment of 200 pairs of women's shoes for $42 per pair. The store sold 120 pairs at the regular selling price of $125 per pair, 60 pairs at a clearance sale at a discount of 40%, and the remaining pairs during an inventory sale at a price that equals cost plus overhead. The store's overhead is 50% of cost. What was the selling price during the inventory sale?
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