A retailer orders a set of cookware from the supplier at $350, less 25%, 11%. The retailer estimates the expenses are 35% of the cost and the planned profit is 30% of the selling price. (a) Use the selling price model, S = C + E + P, calculate the estimated profit and the selling price for the cookware. (b) Under the current promotion, the cookware is advertised at $55 off. What is the markdown percent? [Show your work in detail for full credits)

Answer rating: 100% (QA)

a First we need to calculate the cost C of the cookware for the retail... View the full answer