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Gross $Markdown ($GMD)
Question 1) If 14 pants are reduced from a retail price of $23.50 each to a markdown retail price of $17.50 each, then what is $GMD on the pants?
Question 2) The following are price changes in the MiMi Department Store:
ITEM Q'ty Original Retail Lower Retail
Sweaters 37 $17.50 $13.50
Scarves 13 $17.50 $11.50
Jackets 19 $12.00 $7.00
What is the $GMD for these items?
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