1. The children\'s department had a gross sales of $325,000 and customer returns
ID: 455200 • Letter: 1
Question
1. The children's department had a gross sales of $325,000 and customer returns of $24,000. Determine the markdown percent if the dollar markdown totaled $57,190
2. .During May, a shop had a net markdown of $940. If total markdowns were $1,890, determine the markdown cancellation.
3. During July, sales for the sporting goods department were $625,000 and markdowns totaled $168,750. What was the markdown percentage in July?
4. A giftware buyer received 36 crystal clocks that retailed for $79 each. Five clocks sold at that price before a special sales event. The remaining 31 clocks were marked down to $58. Nineteen of the clocks were sold durig the sale, and the remaining clocks were marked to the original $79 price. The remaining clocks were eventually sold at full price. Calculate the net markdown percent.
5. The missy department had net sales of $58,000 for October. If markdowns were 39.5%, determine the dollar amount of the markdowns.
Explanation / Answer
1. The Markdown % = Markdown/Sales = 57190*100/(325000-24000) = 19%
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