Reducing Prices to Move Merchandise Olympic Sports purchased two dozen pairs of 5th Element Adult Aggresive in-line skates at a cost of $1950. Operating expenses for the store are 25% of cost, while total markup on this type of product is 35% of selling price. Only 6 pairs of the skates sell at the original price, and the manager decides to mark down the remaining skates. The price is reduced 25% and 6 more pairs sell. The remaining 12 pairs of skates are marked down to 50% of the original selling price and are finally sold.
Required:
a Find original selling price of each pair of skates.
b. Find the total of the selling prices of all the skates.
c. Find operating loss-
d. Find absolute loss.
Answers: 1
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