James Page works in a local music store where he sells guitars for $144.79each. If he maintains a markup of 42.4% on selling price, what is the cost of aguitar to James?A. $228.19B. $83.40C. $206.18D. $61.39

Selling price 144.79 Mark-up (42.4% of selling price 144.79) (61.39)Cost 83.40 The…

Answered: James Page works in a local music store…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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James Page works in a local music store where he sells guitars for $144.79 each. If he maintains a markup of 42.4% on selling price, what is the cost of a guitar to James? A. $228.19 B. $83.40 C. $206.18 D. $61.39