Problemmisu sheet owner of the bedspread shop knows his, Ask an Expert

Accounting

Problem:

Misu Sheet, owner of the Bedspread Shop, knows his customers will pay no more than $100 for a comforter. Misu Sheet wants to advertise the comforter as "percent markup on cost."

Required:

Question: What is the equivalent rate of percent markup on cost compared to the 37% markup on selling price?

Note: Please show how to work it out.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91166546

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