This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the skipped part, and you will not be ab to come back to the skipped part. Tutorial Exercise The wholesale cost of a birdcage is $55. The original markup was 49% based on selling price. Find the final sale price (in $) after the following series of price changes: a markdown of 15% and a markup of 12%. (Round each intermediate selling price to the nearest cent.) Step 1 When solving a series of markups and markdowns, remember that each new markup or markdown should be based on the previous selling price. The original selling price, SP, must be found before applying the markup or markdown. This is calculated as follows where C is the wholesale cost and %M is the percent markup based on the selling price. SPO C 100%-%M The percentages must be converted to decimal form before this formula can be used. The wholesaler used a markup of 49% based on the selling price. Thus, the cost the customer paid, SP, will be divided by 100%-%M 100 % -49% = Converting this percent to a decimal gives

This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the skipped part, and you will not be ab to come back to the skipped part. Tutorial Exercise The wholesale cost of a birdcage is $55. The original markup was 49% based on selling price. Find the final sale price (in $) after the following series of price changes: a markdown of 15% and a markup of 12%. (Round each intermediate selling price to the nearest cent.) Step 1 When solving a series of markups and markdowns, remember that each new markup or markdown should be based on the previous selling price. The original selling price, SP, must be found before applying the markup or markdown. This is calculated as follows where C is the wholesale cost and %M is the percent markup based on the selling price. SPO C 100%-%M The percentages must be converted to decimal form before this formula can be used. The wholesaler used a markup of 49% based on the selling price. Thus, the cost the customer paid, SP, will be divided by 100%-%M 100 % -49% = Converting this percent to a decimal gives

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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