Question
A retail company determines its selling price by marking up variable costs 60%. In addition, the company uses frequent selling price markdowns to stimulate sales.
A retail company determines its selling price by marking up variable costs 60%. In addition, the company uses frequent selling price markdowns to stimulate sales. If the markdowns average 10%, what is the company's contribution margin ratio?
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Accounting And Auditing Research Tools And Strategies
Authors: Thomas Weirich, Thomas C. Pearson, Alan Reinstein
6th Edition
032430224X, 9780324302240
