The buyer for the women’s sweater department has purchased wool sweaters for $35.69. She uses an...
The buyer for the women’s sweater department has purchased wool sweaters for $35.69. She uses an odd pricing policy and wants to sell them at a 49-percent markup on selling price. At what price should each sweater be sold?
Homework Answers
Ans $ 69.98
LET THE SELLING PRICE BE X
COST + MARKUP ON SELLING PRICE = SELLING PRICE
35.69 + 49% OF X = X
35.69 + 0.49X = X
X - 0.49X = 35.69
0.51X = 35.69
X = 35.69 / 0.51
X = $ 69.98
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price? (Note: You need to calculate the total cost and total retail
for both purchases in order to solve for the markup)
Does both purchases mean the original order and the special
order?
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