Gerry runs a clothing store in London. He recently purchased 1200
dress shirts that had manufacturer's list price of %55 per shirt. On each shirt there was a trade discount of 20% 10% and 5% from the manufacturer. Gerry's store has operating expenses that are 20% of the selling price and rate of markup is 50% on selling price.

a.What was the cost per shirt to the store?
b.What was the total amount of discount received on the purchase of the 1200 shirts from the manufacturer?
c.What was the equivalent discount rate of the 20% 10% and 5% trade discounts?
d.He sold 400 shirts at the regular selling price
e.What was the total revenue from the 400 shirts sold?

Answer rating: 100% (QA)

Answers a Cost per shirt 3762 b Total amount of discount on 1200 shirts 20 856 c Equivalent disc... View the full answer