Question

In: Finance

Skirts have recently become a big item for the Soleon Department Store. The buyer was able...

  1. Skirts have recently become a big item for the Soleon Department Store. The buyer was able to obtain 3 different styles. Her order is as follows:

                                

Style Number

# items

Unit cost

Unit retail

Total cost

Total retail

MU%

SK2810120

50

$32.00

SK2700427

10

$54.50

SK2450815

20

$43.00

If the average markup goal for these 3 skirt styles is 55%, what is the expected total dollar retail for them? (5 points)

Solutions

Expert Solution

Solution:

Markup is always made on cost.Thus required calculations are as follow:

i)Unit retail and total dollar retail

a)SK2810120=Unit cost(1+markup)

=$32.00(1+0.55)=$49.6

Total dollar retail=Unit retail*Total unit

=$49.6*50=$2,480

b)SK2700427=$54.50*(1+0.55)

=$84.475

Total dollar retail=Unit retail*Total unit

=$84.475*10=$844.75

c)SK2450815=$43.00(1+0.55)

=$66.65

Total dollar retail=$66.65*20=$1,333

ii)Total Cost

Total cost=Unit cost*No. of unit

a)SK2810120=$32*50

=$1600

b)SK2700427=$54.50*10

=$545.

c)SK2450815=$43.00*20

=$860


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