Reference no: EM132542822

Gross Markdown% (GMD%)

Question 1) The men's wear department buyer takes the following markdowns during this month.

ITEM           Q'ty            Original Retail             Lower Retail

A                    2            $16.50                    $13.50

B                    8                 $14.25                  $11.25

C                    2               $17.00                 $8.00

What was the department's GMD%?

Question 2) The Mimi Department Store bought 31 coats to sell at $185.00 each. The coats cost $70.00 each. 13 were sold at the original retail price, 8 were marked down $20.00 from the original price and the remainder were marked down an additional $25.00 before they were finally sold. What is the GMD% for all coats?

Question 3) During a three-month period, the children's wear department recorded the following transactions.

Month                 Gross Original Retail                 Gross Markdowns

October                      $410                                   $137

November                    $510                                  $113

December                      $320                                    $93

What was the GMD% for this period?