Lumber Liquidators bought 240 cases of oak hardwood flooring at an auction for $19 200.00. This means that each case had the same cost. Back at the store, the cases were sorted into good quality, seconds, and substandard. The 134 good quality cases were sold at a markup of 105% of cost, the 79 cases classified as seconds were sold at a markup of 28% of cost, and the remaining cases classified as substandard were sold at 65% of their cost.
(a) What was the unit selling price for each of the three classifications?
(b) If overhead is 34% of cost, what was the amount of profit realized on the purchase?
(c) What was the average rate of markup based on the selling price at which the cases were sold?