SHOW WORK

1) As the business owner, you have purchased an item at $24.50 wholesale and would like to price it so as to make a 62% gross profit margin. The retail price will be $____________.

2) As the business owner, you have an item priced $1237.99 at retail and would like to determine the wholesale cost of the item. You remember the gross profit margin on the item is 42%. The wholesale cost of the item is $_____________.

3) As the business owner, you have an item priced $1.89 at retail and would like to determine the wholesale cost of the item. You remember the gross profit margin on the item is 43%. The wholesale cost of the item is $____________.

4) As the business owner, you know the gross profit margin of an item with a retail price of $5.89 was 33%. The wholesale cost of the item was $___________.

5) As the business owner, you have an item you purchased for $15,998 at wholesale and would like to make a gross profit margin of 9%. The retail price will be $___________.