Question
The Urban Turban, a popular accessory store, bought 350 watches at $46 less 7%, 5%. The markup on the watches was 37% of the selling
The Urban Turban, a popular accessory store, bought 350 watches at $46 less 7%, 5%. The markup on the watches was 37% of the selling price. After selling 40% of the shipment, the rest of the watches were marked down to a reduced selling price. When there were only 30 watches left, the Urban Turban marked these down to $17.90.
Note: Use the rounded final answer from part (a) for all subsequent calculations.
a. What is the cost for each watch?
Round to the nearest cent
b. What is the total cost (TC)?
Round to the nearest cent
c. What is the regular selling price for the watches?
Round to the nearest cent
d. Given an average markup of 22% based on sales, what are the total sales?
Round to the nearest cent
e. Given the total sales above, what is the reduced price of the watches?
Round to the nearest cent
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