(Answered) Question - calculating price using a markup percentage of

Accounting

Question - Calculating Price Using a Markup Percentage of Cost

Lake McDonald Gift Shop has decided to price the games that it sells at cost plus 70%. The National Parks Memory Card Game costs $5.00 each, and another one, the Guess This Animal Track Game, costs $1.00 each.

Required:

1. What price will Lake McDonald Gift Shop charge for each National Parks Memory Card Game? If required, round your answer to two decimal places.

2. What price will Lake McDonald Gift Shop charge for each Guess This Animal Track Game? If required, round your answer to two decimal places.

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