2. Ch. 8 The selling price of lumber at Home Depot is $3,920, percent markup on...
2. Ch. 8
The selling price of lumber at Home Depot is $3,920, percent markup on cost is 30%. Calculate the actual cost. (Round your answer to the nearest cent.)
Actual cost
$:
Homework Answers
The actual cost refers to the selling price before the 30%
markup.
So, we can write the equation as:
Selling cost=Actual cost*(1+30%)
Selling cost=Actual cost*1.3
Given that, the selling price= $3,920
=>3920=Actual cost*1.3
=>Actual cost=3920/1.3=3015.38
Actual cost=$3015.38
Add Answer to:
2. Ch. 8
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