Asked by Jattiya Arrianna on Jul 21, 2024
Verified
A product has a wholesale price of $876 less 27% and 8%. Mark-up on cost is 29%, while operating expenses are 16% of selling price. If the retailer sells the product for $645.09, determine the rate of mark-up realized.
Operating Expenses
Costs associated with the day-to-day operations of a business or organization.
Wholesale Price
The cost of goods sold in large quantities, usually to retailers rather than directly to consumers.
Mark-up on Cost
The percentage added to the cost price of goods to cover overhead and profit.
- Ascertain and employ various percentage calculations in the sphere of retail pricing, including markdowns, markups, and discounts.
- Calculate profit or loss realized from the sale of an item based on cost, selling price, and operating expenses.
Verified Answer
SS
Learning Objectives
- Ascertain and employ various percentage calculations in the sphere of retail pricing, including markdowns, markups, and discounts.
- Calculate profit or loss realized from the sale of an item based on cost, selling price, and operating expenses.