Question

Clipboard Font Alignment Number Styles 29 fx 2 B С E А 4 5 Markup Practice Problems 6 Calculate the cost price given the retail and the planned MU % 7 Cost $ 8. A pair of sneakers will be ticketed with a retail price of $118.00 and 8 the markup % is 54.0%. What is the cost price for the sneakers ? 9 30 9. What is the maximum cost a buyer can pay for a coat that will sell for $550 with a markup of 56.0%? Retail $ $118.00 Cost% 2 31 32 Cost% Costs Retail S $550.00 10. You are the jewelry buyer for a large mass-market chain. For the holiday season, you are planning a boxed jewelry Gifts to Go promotion for $19.99. The markup for the promotion is planned at 43.0% What is the maximum cost price that you will pay for the boxed jewelry? 33 34 Retail $ $19.99 Cost% Costs Retails $89.00 Cost % Costs Cost% Costs 11. Given the following departmental markups and average retails per 35 department, what is the maximum cost that the buyer can pay? 36 a. Sneakers, 54.4% markup, Retail price $89.00 37 38 39 b. Men's ties, 65.7% markup: Retail price $38.00 40 41 42 c. Boy's apparel, 47.9% markup: Retail price $14.00 43 44 Formulas Problems Retail $ $38.00 Cost% Costs Retail $ $14.00

Answer 1

If retail price and mark-up percentage is given, then cost can be calculated
by the following formula:-
Cost Price =   Retail Price
1 + Markup %
SI No.	Particulars	Retail $	Mark-up %	Cost $
8	Pair of Sneakers	118.00	54%	76.62
9	Coat	550.00	56%	352.56
10	Boxed Jewelry	19.99	43%	13.98
11 a.	Sneakers	89.00	54.4%	57.64
11 b.	Mens Ties	38.00	65.7%	22.93
11 c.	Boys Apparel	14.00	47.9%	9.47