Sung purchased designer bags for $242.88 each, less 12% and 8%. The markup is 35% on selling price and the operating profit is 15% on cost. During a sale, the designer bags were marked down to $260.00.

a. What was the regular selling price?

b. What was the rate of markdown?

c. At the sale price, what was the profit or loss?

AppendixLO1