While she was at the store, it purchased 962 dress shirts that were listed for $71 each less trade discounts of 10%, 8%, and 1% from FXFusion in Vancouver. The store's operating expenses are 26% of cost and markup is 69% of cost. The store sold 562 shirts at the regular selling price. During a sale, it offered a markdown of 13% and sold another 271 shirts. It sold another 129 shirts at the break-even price. Using your break-even price and regular selling price calculated in the previous questions, what would the rate of markdown have to be to reduce the selling price to the breakeven price. Answer must follow format of xx.xx rounded to 2 decimal places and include appropriate units.

While she was at the store, it purchased 962 dress shirts that were listed for $71 each less trade discounts of 10%, 8%, and 1% from FXFusion in Vancouver. The store's operating expenses are 26% of cost and markup is 69% of cost. The store sold 562 shirts at the regular selling price. During a sale, it offered a markdown of 13% and sold another 271 shirts. It sold another 129 shirts at the break-even price. Using your break-even price and regular selling price calculated in the previous questions, what would the rate of markdown have to be to reduce the selling price to the breakeven price. Answer must follow format of xx.xx rounded to 2 decimal places and include appropriate units.

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

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While she was at the store, it purchased 962 dress shirts that were listed for $71 each less trade discounts of 10%, 8%, and 1% from FXFusion in Vancouver. The store's operating expenses are 26% of cost and markup is 69% of cost. The store sold 562 shirts at the regular selling price. During a sale, it offered a markdown of 13% and sold another 271 shirts. It sold another 129 shirts at the break-even price. What is the total amount of discount received on the purchase of all 962 shirts from the manufacturer? Answer must follow format of xx.xx rounded to 2 decimal places and include appropriate units. Answer:
While she was at the store, it purchased 962 dress shirts that were listed for $71 each less trade discounts of 10%, 8%, and 1% from FXFusion in Vancouver. The store's operating expenses are 26% of cost and markup is 69% of cost. The store sold 562 shirts at the regular selling price. During a sale, it offered a markdown of 13% and sold another 271 shirts. It sold another 129 shirts at the break-even price. What is the break-éven price per shirt? Answer must follow format of xx.xx rounded to 2 decimal places and include appropriate units. Answer:
While she was at the store, it purchased 962 dress shirts that were listed for $71 each less trade discounts of 10%, 8%, and 1% from FXFusion in Vancouver. The store's operating expenses are 26% of cost and markup is 69% of cost. The store sold 562 shirts at the regular selling price. During a sale, it offered a markdown of 13% and sold another 271 shirts. It sold another 129 shirts at the break-even price. What is the single equivalent rate of discount for the three discounts on the cost only? Answer must follow format of xx.xx rounded to 2 decimal places and include appropriate units. Answer:
During February, the last month of the fiscal year, Be My Valentine Ltd. sells $21,400 of gift cards. From experience, management estimates that 8% of the gift cards sold will not be redeemed by customers. In March, $4,600 of these cards is redeemed for merchandise with a cost of $2,500. In April, further $13,800 of these cards is redeemed for merchandise with a cost of $4,600. The company uses a perpetual inventory system. Also in February, Be My Valentine had $1,000 of unused gift cards that were over one year old and were not expected to be used. The amount was in line with the company's normal breakage and all other gift cards of the same age had been used.
During February, the last month of the fiscal year, Be My Valentine Ltd. sells $20,200 of gift cards. From experience, management estimates that 8% of the gift cards sold will not be redeemed by customers. In March, $4,600 of these cards is redeemed for merchandise with a cost of $2,500. In April, further $11,500 of these cards is redeemed for merchandise with a cost of $3,800. The company uses a perpetual inventory system. Also in February, Be My Valentine had $1,000 of unused gift cards that were over one year old and were not expected to be used. The amount was in line with the company's normal breakage and all other gift cards of the same age had been used. Your answer is correct. Prepare journal entries to record the transactions for February, March, and April. (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles…
On May 8, Leon's Kitchen Hut bought a set of pots with a $108 list price from Lambert Manufacturing. Leon's receives a 35% trade discount. Terms of the sale were 2/10, n/30. On May 14, Leon's sent a check to Lambert for the pots. Leon's expenses are 25% of the selling price. Leon's must also make a profit of 12% of the selling price. A competitor marked down the same set of pots 35%. Assume Leon's reduces its selling price by 19%. a. What is the sale price at Kitchen Hut? Note: Round your answer to the nearest cent. Sale price b. What was the operating profit or loss? Note: Input the amount as a positive value. Round your answer to the nearest cent.
RT retail store purchased 10,000 units of chairs from YS furnishing for $300,000. The listed price for 10,000 units was $330,000. What is the nearest trade discount percentage that RT retail received?
George’s Gorgeous Gowns is a small boutique located in Ohio that sells special occasion gowns to women of all ages. He carries a 54% markup on all his garments. He needs to calculate the closing retail book inventory and convert this figure to cost value based on the following figures: Opening inventory at retail =$23,000; net sales =$76,000; markdowns =$2,600.00; employee discounts =$1,200; and returns to vendors= $3,500. Additionally, he has $75,000 in purchases (at retail). Find the closing book inventory in retail and cost.
Firm A is a merchandiser selling small devices. At the beginning of October, it has 400 devices in the warehouse. Each cost is 2.5 dollars. On Oct.5th, the firm purchased 300 new devices with a price of 3 dollars each. On Oct.10th, the firm sold 500 devices. On Oct.15th, the firm purchased 400 new devices with a price of 3.5 dollars each. On Oct.20th, the firm sold 200 devices. On Oct.25th, the firm sold 300 devices. On Oct.30th, the firm purchased 250 new devices with a price of 4 dollars each. Please determine the cost of merchandise sold during October and show the calculation process. Use LIFO Perpetual method.
Firm A is a merchandiser selling small devices. At the beginning of October, it has 400 devices in the warehouse. Each cost is 2.5 dollars. On Oct.5th, the firm purchased 300 new devices with a price of 3 dollars each. On Oct.10th, the firm sold 500 devices. On Oct.15th, the firm purchased 400 new devices with a price of 3.5 dollars each. On Oct.20th, the firm sold 200 devices. On Oct.25th, the firm sold 300 devices. On Oct.15th, the firm purchased 250 new devices with a price of 4 dollars each. Please determine the cost of merchandise sold during October and how the calculation process.
New Sunrise Bookstore sold 600 books on credit at $20.00 each with a sales term of 2/10 n/30. The cost of the books sold is $8,500. After selling the books, the customer returned 50 books because they were damaged. The customer paid the balance due on the fifth day after purchasing the books. Record in the journal the sale, the return, and the payment made by the customer. Indicate the gross profit that New Sunrise Bookstore made on this sale.
Patrick's Paint Supplies purchased $7,400 worth of easels, canvas, and pallets from their supplier to sell in their store. The invoice for the order showed a trade discount of 35%. The net price that Patrick's Paint Supplies must pay is $4,810. True or False

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