Question
A sports club purchased two dozen pairs of skates at a cost of $1860. Operating expenses for the store are 22% of the cost, while
A sports club purchased two dozen pairs of skates at a cost of
$1860.
Operating expenses for the store are
22%
of the cost, while the total markup on this type of product is
38%
of the selling price. Only 6 pairs of the skates sell at the originalprice, and the manager decides to mark down the remaining skates. The price is reduced 25% and 6 more pairs sell. The remaining 12 pairs of skates are marked down to 50% of the original selling price and are finally sold.
1. Find the original selling price of each pair of skates.
2. Find the total of the selling prices of all the skates.
3. Find the operating loss.
4. Find the absolute loss.
1.
The
original selling price of each pair of skates is
$nothing.
2.
The
total of the selling prices of all the skates is
$nothing.
3.
Select
the correct choice below and, if necessary, fill in the answer box to complete your choice.
A.The operating loss is
$nothing.
B.
There is no operating loss because the selling price is greater than the break-even point.
4.
Select
the correct choice below and, if necessary, fill in the answer box to complete your choice.
A.The absolute loss is
$nothing.
B.
There is no absolute loss because the reduced price is greater than the cost.
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