Assume Gamms, a retail establishment, wants to capture a 20 percent share of its local evening gown
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Assume Gamm’s, a retail establishment, wants to capture a 20 percent share of its local evening gown market. In order to capture that share, it has determined that the average selling price of an evening gown should be no more than $520. Gamm’s currently requires a 30 percent markup on all clothing lines. If it wishes to maintain that markup percentage, what is its average target cost for an evening gown?
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Financial And Managerial Accounting The Basis For Business Decisions
ISBN: 9781260247930
19th Edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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