The rate of markup on cost on a product selling at $66.45 is 41%.a. What is the cost of the product to the retailer?Round to the nearest centb. What is the rate of markup on selling price?%Round to two decimal places

Answer to a: The cost of product to the retailer.Since the markup is on cost, therefore to find the…

Answered: The rate of markup on cost on a product…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

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The rate of markup on cost on a product selling at $66.45 is 41%. a. What is the cost of the product to the retailer? Round to the nearest cent b. What is the rate of markup on selling price? % Round to two decimal places