A car dealer purchased multiple-disc CD players for $1185 each and desires a 40% markup (at retail). What retail price should be charged? Note: When calculating the financials, please round to four decimal places. For example: \begin{aligned}1.7658643983\( &=1.7659 \) (four decimal places) Asset turnover \( =& \) Net sales \cline { 2 - 3 } \( & \) Total assets Cost complement \( =& \frac{\text { Total cost valuation }}{\text { Total retail valuation }} \end{aligned} \) Cost of goods sold = Cost of merchandise available for sale - cost value of ending inventory Ending retail book value of inventory = on paper, how much is your inventory worth (at retail) = Merchandise available for sale Sales Deductions Financial Leverage =NetworthTotalassets Gross Profit = Sales Cost of Goods Sold Net Profit = Gross Profit Operating Expenses Net Profit Margin =NetsalesNetprofitaftertaxes Profit \& Loss Statement = Sales less cost of goods sold = gross profit Return of Assets = Net profit margin X asset tumover Return on Net worth = Net profit margin x Asset turnover x Financial leverage Stock Shortages = Ending retail book value of inventory - physical inventory at retail Total merchandise available (at cost) = Beginning monthly inventory + Net purchases + transportation charges Total merchandise available (at retail) = Beginning monthly inventory + Net purchases