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What was the profit or loss made during the sale

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Reference no: EM133069679

Question - Somar Fashions purchased 100 T-shirts for $23 less 24%. During a promotion, Somar Fashions sold the T-shirts at a reduced or sale price of $18.35. Overhead expenses were 14% of the regular selling price of a T-shirt.

a) If the store's markup was $6.77, what was the rate of markdown?

b) What was the profit or loss made during the sale?

Reference no: EM133069679

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