Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. The children's department had a gross sales of $325,000 and customer returns of $24,000. Determine the markdown percent if the dollar markdown totaled $57,190

1. The children's department had a gross sales of $325,000 and customer returns of $24,000. Determine the markdown percent if the dollar markdown totaled $57,190

2. .During May, a shop had a net markdown of $940. If total markdowns were $1,890, determine the markdown cancellation.

3. During July, sales for the sporting goods department were $625,000 and markdowns totaled $168,750. What was the markdown percentage in July?

4. A giftware buyer received 36 crystal clocks that retailed for $79 each. Five clocks sold at that price before a special sales event. The remaining 31 clocks were marked down to $58. Nineteen of the clocks were sold durig the sale, and the remaining clocks were marked to the original $79 price. The remaining clocks were eventually sold at full price. Calculate the net markdown percent.

5. The missy department had net sales of $58,000 for October. If markdowns were 39.5%, determine the dollar amount of the markdowns.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

1. Let a, b R, a Answered: 1 week ago

Answered: 1 week ago