Asked by gaurang narang on Jul 03, 2024
Verified
Won Yin imports furniture and sells through several outlet stores. Yin's markup for imported tables is 125% based on cost. If a table sells for $877.50, how much did it cost?
Imported Tables
Digital or physical tables of data that are brought into a document or database from an external source.
Markup Percent
The rate at which the cost price of goods is marked up to determine their selling price.
Selling Price
The amount for which something is sold, determined by factors such as cost, demand, and competition.
- Master the fundamentals of markup that is based on cost and how to calculate it.
- Calculate the selling price of products given the cost and markup percentage.
- Calculate the cost of products given the selling price and markup percentage.
Verified Answer
AK
Learning Objectives
- Master the fundamentals of markup that is based on cost and how to calculate it.
- Calculate the selling price of products given the cost and markup percentage.
- Calculate the cost of products given the selling price and markup percentage.