Q2. Retail price is often fluctuating in fashion stores. In the given scenario, the price changes will occur five times and the store customers will see four different prices for the same merchandise; first price ($56, IMU 50%), premium price (20%), promotional price (30%), and clearance price (70%). Based on this given information, calculate each of the price in this scenario. In order to receive the full credits, you should provide the outcome and the calculation process. When you calculated outcome is incorrect, but process is correct, you will receive the partial points. No or incorrect process will not receive the grade.

Wholesale price (=retail cost)

+initial markup (50%)

=first price ($56)

+additional markup (20%)

=premium price

-markup cancellation

=first price

-temporary markdown (30%)

=promotional price

+markdown cancellation

=first price

-permanent markdown (70%)

=clearance price

Q2-1. Calculate the retail cost ($).

Q2-2. Calculate the premium price ($).

Q2-3. Calculate the promotional price ($).