Question
Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $40. The
Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $40. The manager asked Kim to price the running shoes with a 60% target gross margin. Kim has priced the running shoes with a 60% markup percentage.
If there are 50 running shoes, how much will the store lose in sales if the price is not correct?
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
9th Edition
978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062
