After assessing the competitors, you determine that Leah needs to price her products with a markup percentage of 60%. The cost of her tank tops is $28 and her pullovers is $38. Determine the selling price for each of Leahs clothing items.

b. Leah is ready to launch her yoga pants. You have determined that she should set her price 30% below her competitors price of $108. Leahs cost to produce yoga pants is $44 per unit. Determine the markup percentage on Leahs yoga pants.

c. Calculate the gross profit margin for tank tops, pullovers, and yoga pants.

d. After a year, you determine that Leah should set a standard target margin percentage of 45% on all products. Determine the new prices for tank tops, pullovers, and yoga pants.

Consider the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record the sale on June 1 in Accounts ReceivableAvery & Wiest.

June 1 Sold merchandise to Avery & Wiest for $9,650; terms 2/5, n/15, FOB destination (cost of sales $6,800).

2 Purchased $5,050 of merchandise from Angolac Suppliers; terms 2/10, n/20, FOB shipping point.

4 Purchased merchandise inventory from Bastille Sales for $11,700; terms 1/15, n/45, FOB Bastille Sales.

5 Sold merchandise to Gelgar for $11,300; terms 2/5, n/15, FOB destination (cost of sales $7,850).

6 Collected the amount owing from Avery & Wiest regarding the June 1 sale.

12 Paid Angolac Suppliers for the June 2 purchase.

20 Collected the amount owing from Gelgar regarding the June 5 sale.

30 Paid Bastille Sales for the June 4 purchase.

Prepare General Journal entries to record the above transactions.