Retail Math Profit Homework 1. A supplier has 75 units of a product they wish to sell to a regional grocery chain. The product would cost $6.00 per unit. To obtain a 40% initial margin, what price should the buyer place on the product? 2. A local clothing store is carrying a new line of merchandise. Included in this new line is a coat which costs $40 and retails for $80. What is the markup % on this coat? 3. For the 4" of July, a large discount chain sells packages of red, white, and blue steamers for $3.00. Of 10,000 streamers, 8,500 sell at the original price, while the rest were marked down to $2.50 and 1,000 sold at that price. The last 500 sold at $1.50 each. What were the markdown dollars? What was the markdown percent? 4. A regional grocer bought 500 locally grown watermelons. They cost $1 each, and were priced at $5 each. Unfortunately, weather was colder than expected and the store needed to take markdowns of 50% to sell the watermelons. What is the initial margin percent? What is the maintain margin percent? Did the grocer make a profit? 5. Every morning Grandma's Kitchen purchases fresh cinnamon rolls from a local bakery. These cost $.75 each. They are sold to early morning customers for $3.00 each. Whatever rolls do not sell that morning are sold the next day as 'day old rolls.' The markdown percent is 100%. What is the initial margin percent on the cinnamon rolls? What is the maintain margin percent? Did the restaurant make a profit