Question
The following is Ivanhoe Companys income statement for the past year. Sales revenue $339,000 Cost of goods sold 135,600 Gross margin 203,400 Operating expenses 146,900
The following is Ivanhoe Companys income statement for the past year.
| Sales revenue | $339,000 | |
| Cost of goods sold | 135,600 | |
| Gross margin | 203,400 | |
| Operating expenses | 146,900 | |
| Operating income | $56,500 |
If the company wants to sell a new product that costs $50 wholesale while keeping the same markup structure, what will be the price of the new product?
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Financial And Managerial Accounting
Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler
15th Edition
1337902667, 9781337902663
