Asked by
Harison Samaratunga
on Dec 16, 2024
Verified
The gift shop purchased four sets of Block brand hand-painted stemware expecting to sell all four at the list price of $24.99. Unfortunately, the demand for the stemware was not as high as the owner had anticipated. She was only able to sell one at this price. She reduced the price on the other three sets to $16.49 and was able to sell all three sets. Calculate her markdown percentage.
A) 0.34 percent
B) 2.78 percent
C) 3.43 percent
D) 27.8 percent
E) 34.2 percent
Markdown Percentage
The reduction percentage applied to an item's retail price to stimulate sales or clear out inventory.
Hand-painted Stemware
Glassware for drinks that has been decorated by hand with paint, often featuring intricate designs or patterns.
List Price
The manufacturer's suggested retail price or the price at which a product is commonly sold to the public.
- Appraise principal financial indicators such as markup percentage, markdown percentage, and return on investment.
Verified Answer
HM
Learning Objectives
- Appraise principal financial indicators such as markup percentage, markdown percentage, and return on investment.