Top Posters
Since Sunday
50
s
23
9
8
R
7
6
G
4
p
4
C
4
L
3
3
3
New Topic  
gewusel gewusel
wrote...
Posts: 370
Rep: 0 0
5 years ago
A clothing retailer buys winter coats from one of its suppliers for $67.50. The regular selling price of the coats includes operational expenses of 46% of the selling price and a profit of 30% of the selling price. Due to an unexpected warm winters, the sales have been extremely slow. With spring products arriving in the warehouse, the retailer decides to mark down this line of coats by 70% to clear out the inventory. What is the operating profit or loss on the coats sold during the promotional sale?
Textbook 

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
Read 226 times
9 Replies
Replies
Answer verified by a subject expert
josanjosan
wrote...
Posts: 354
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
a) C = $67.50
Regular selling price: S = 67.5 + 0.46S + 0.30S
   0.24S - 67.5
   S = $281.25
Sale price = 281.25(1 - 0.70)
   = $84.375
Profit = Sale Price - C - E
   = 84.375 - 67.5 - 0.46(67.5)
   = - $14.175
Hence the retailer will incur a loss of $14.18.
1

Related Topics

wrote...
2 years ago
thank you
wrote...
A year ago
thank you
wrote...
A year ago
Thx
wrote...
A year ago Edited: A year ago, ggcoolie45
g
wrote...
A year ago
Thanks
wrote...
2 months ago
TY :)
wrote...
A month ago
TY :)
wrote...
4 weeks ago
Thank you
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  114 People Browsing
 298 Signed Up Today
Related Images
  
 160
  
 156
  
 175
Your Opinion
Do you believe in global warming?
Votes: 339

Previous poll results: Who's your favorite biologist?