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Author Question: Determine the initial markup percent for a sporting goods store that has the following planned ... (Read 83 times)

HudsonKB16

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on: Sep 11, 2018
Determine the initial markup percent for a sporting goods store that has the following planned figures for a three-month period:
  Net sales 425,000
  Profit 4.1
  Expenses 0.0
  Employee discounts  4,000
  Cash discounts  7,000
  Alteration costs 3.5
  Shortages  3,825
  Markdowns 6.4
 
  a. 40.83
  b. 44.45
  c. 50.83
  d. 40.28

Question 2

What is the main goal of a company as it establishes the price of its goods, whether domestically or for foreign markets?
 
  What will be an ideal response?


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ciecieme

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Reply #1 on: Sep 11, 2018
Answer to Question 1

a. 40.83

Answer to Question 2

Maximization of profits in pricing its goods.


HudsonKB16

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Reply #2 on: Sep 11, 2018
Both answers were spot on, thank you once again


ciecieme

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Reply #3 on: Sep 11, 2018
Great! Please up vote :D


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