Reference no: EM133038941
Big Boy Appliances bought self-cleaning ovens for $719.00 less 33&1/3%, 16&2/3%, 6.5%. Expenses are 14% of the regular selling price and profit is 10% of the regular selling price.
For competitive reasons the store marks all merchandise with an artificially inflated selling price so that a discount of 28% can be advertised without affecting the margin.
At the end of the summer, to promote sales, the ovens were marked down 49%.
a.) What was the cost of the oven to Big Boy Appliances? Answer
b.) What is the regular selling price? Answer
c.) Calculate the expenses. Answer
d.) Calculate the artificially inflated selling price Answer
e.) Calculate the marked down (end of summer) price. Answer
f.) What profit or loss was realized on the ovens at the marked down price? Answer
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