Answer to Question #296010 in Financial Math for Jaskaran

Question

aldo's shoes bought a shipment of 667 pairs of​ women's shoes for ​$36.00 per pair. The store sold 122 pairs at the regular selling price of $228.00 per​ pair, 78 pairs at a clearance sale at a discount of 35% and the remaining pairs during an inventory sale at a price that equals cost plus overhead. The​ store's overhead is 25% of cost.

​(a) What was the price at which the shoes were sold during the clearance​ sale?

​(b) What was the selling price during the inventory​ sale?

​(c) What was the total profit realized on the​ shipment?

​(d) What was the average rate of markup based on cost that was realized on the​ shipment?

Answer 1

A)   $ 89.04 Per Pair - Clearance Sale Price

B)  $ 55.20 Per Pair    - Inventory Sale Price

C)   $ 18,884.76    - Total Profit realized from the shipment

D    52.04%               -  Average markup