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    Practical Business Math Procedures Study Set 2
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    Exam 8: Markups and Markdowns: Perishables and Breakeven Analysis
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    Assume Markup Is Based on Cost
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Assume Markup Is Based on Cost

Question 113

Question 113

Short Answer

Assume markup is based on cost. Solve for the actual cost (round to nearest cent):
Selling price $600
Markup % on cost 35%
Actual cost?

Correct Answer:

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$600/1.35 ...

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