Written work required
1.The buyer for a fast fashion retail store wants to price tee shirts at $14.50. The cost the buyer has negotiated is $6.50.
What is the markup percentage for the tee shirts?
a. 123.08%
b. 44.83%
c. 55.17%
d. 50.00%
2.
The sportswear buyer purchases sweaters that cost $24.15 each. What is the minimum price at which these sweaters must be retailed in order to achieve a 65.0% markup?
a. $39.85
b. $70.00
c. $69.00
d. $37.15
3.
The shoe buyer is planning to run a sale on sneakers. The planned retail price is $89.99 and the planned markup percentage is 54.5%. What is the maximum cost price that the buyer can pay for the sneakers?
a. $40.95
b. $16.51
c. $49.50
d. $49.04
4.
The towel buyer is buying the following items: 300 wash cloths at a cost of $2.10 with a retail price of $5.99, 270 hand towels at a cost of $3.00 with a retail price of $7.99, and 400 bath towels at a cost of $4.00 with a retail price of $9.99.
What is the markup percentage for this order?
a. 62.04%
b. 61.76%
c. 67.16%
d. 38.24%
5.
The buyer for RC Discount Stores wants to spend $252,000 for June receipts for shorts. The minimum number of shorts is 10,500, and the cumulative markup is 44.0%. What is the cost price for the shorts and the retail price that the buyer will
need to sell the shorts for?
$10.56 cost, $24.00 retail
$24.00 cost, $36.00 retail
$11.00 cost, $25.00 retail
$13.44 cost, $24.00 retail
6.
A buyer takes a markdown on swimwear cover-ups from $69.00 to $44.99 and sells 180 coverups. What is the total markdown for the cover-ups?
a. $8,098.20
b. $4,321.80
c. $24.01
d. $25.00
7.
The men’s tie buyer is planning to promote all $59.00 ties at 30% off. What is the promotional price for the ties?
a. $39.99
b. $29.00
c. $17.70
d. $41.30
8.
The handbag buyer took $66,080 in markdowns during the month of May. The total handbag net sales in May were $118,000. What was the markdown percentage for handbags in May?
a. 44.00%
b. 56.00%
c. 178.50%
d. 55.90%
