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On April 8, Leon's Kitchen Hut bought a set of pots with a $132 list price from Lambert Manufacturing. Leon's receives a 30% trade
On April 8, Leon's Kitchen Hut bought a set of pots with a $132 list price from Lambert Manufacturing. Leon's receives a 30% trade discount. Terms of the sale were 2/10, n/30. On April 14, Leon's sent a check to Lambert for the pots. Leon's expenses are 11% of the selling price. Leon's must also make a profit of 13% of the selling price. A competitor marked down the same set of pots 10%. Assume Leon's reduces its selling price by 25%. a. What is the sale price at Kitchen Hut? Note: Round your answer to the nearest cent. Sale price $ 89.35 b. What was the operating profit or loss? Note: Input the amount as a positive value. Round your answer to the nearest cent.
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