Asked by Tatiana Silva on Apr 28, 2024
Verified
Merchandise with a wholesale price of $4,926 is purchased less 55% and 22%. If the retail price is $3,074, determine the mark-up on cost.
Wholesale Price
The cost at which goods are sold to retailers by manufacturers or distributors before any retail markup.
Retail Price
The cost at which an item is sold to the general public by retailers.
Mark-up on Cost
The percent increase applied to the goods' cost price to cover overhead expenses and profit.
- Recognize and implement diverse percentage calculations in retail pricing, including the concepts of markdowns, markups, and discounts.
Verified Answer
GS
Learning Objectives
- Recognize and implement diverse percentage calculations in retail pricing, including the concepts of markdowns, markups, and discounts.