Retail Math Markdown & Maintain Margin Homework 1. Every summer a dollar store sells sunglasses for $3.00. Of the 10,000 pairs originally offered for sale, 7,500 sell at the original price, while the rest were marked down to $2.50 and 2,000 sold at that price. The last 500 sold at $1.50 each. What were the markdown dollars? What was the markdown percent? (Make certain to report both numbers using the proper format.) (3 points) 2. A local produce stand decided to extend their season by selling Christmas trees in November and December. The stand's owner purchased 500 locally grown Christmas trees. They cost $10 each, and were priced at $50 each. Unfortunately, the trees did not sell as well as expected and the owner needed to take markdowns of 65% to sell them. What is the initial margin percent on the Christmas trees? What is the maintain margin percent? (2 points) 3. If the produce stand in Q2 made sales of $8,000, what were their maintain margin $? Did the produce stand make a profit? Would you suggest they try selling Christmas trees again next year? Why or why not? (2 points) 3. Every morning Neighbor's Restaurant purchases fresh pastries from a local bakery. These cost $.75 each. They are sold to customers for $3.00 each. Whatever rolls do not sell that morning are sold the next day as 'day old' baked goods. The markdown percent is 100%. What is the initial margin percent on the pastries? What is the maintain margin percent? Did Neighbor's Restaurant make a profit on the pastries? (2 points)