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The boyswear buyer purchases 20 dozen pairs of jeans at $108/dozen and 15 dozen flannel shirts at $96/dozen. The departmental markup is planned at 52%. If the jeans are priced at $18, what price must be put on the shirts to reach goal markup?

The boyswear buyer purchases 20 dozen pairs of jeans at $108/dozen and 15 dozen flannel shirts at $96/dozen. The departmental markup is planned at 52%. If the jeans are priced at $18, what price must be put on the shirts to reach goal markup?

FINANCIAL ACCOUNTING
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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The boyswear buyer purchases 20 dozen pairs of jeans at $108/dozen and 15 dozen flannel shirts at $96/dozen. The departmental markup is planned at 52%. If the jeans are priced at $18, what price must be put on the shirts to reach goal markup? Retail Cost Markup % Total needs. a) $17.67 b) $28.33 c) $18.00 d) $14.46 Purchases Balance.
Transcribed Image Text:The boyswear buyer purchases 20 dozen pairs of jeans at $108/dozen and 15 dozen flannel shirts at $96/dozen. The departmental markup is planned at 52%. If the jeans are priced at $18, what price must be put on the shirts to reach goal markup? Retail Cost Markup % Total needs. a) $17.67 b) $28.33 c) $18.00 d) $14.46 Purchases Balance.
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