Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On September 8, 2017, Leon's Kitchen Hut bought a set of pots with a $146 list price from Lambert Manufacturing. Leon's receives a 30% trade
On September 8, 2017, Leon's Kitchen Hut bought a set of pots with a $146 list price from Lambert Manufacturing. Leon's receives a 30% trade discount. Terms of the sale were 2/10, n/30. On September 14, Leon's sent a check to Lambert for the pots. Leon's expenses are 30% of the selling price. Leon's must also make a profit of 16% of the selling price. A competitor marked down the same set of pots 30%. Assume Leon's reduces its selling price by 35% a. What is Kitchen Hut's cost for the set of pots? (Round your to the nearest cent.) b. What is Kitchen Hut's original selling price? (Round your answer to the nearest cent.) c. What is the sale price at Kitchen Hut? (Round your answer to the nearest cent.) answer . Cost b. Original selling price c. Sale price
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started