Problem:
Fad City sells novel clothes that are subject to a great deal of price volatility. A recent item that cost $22.00 was marked up $12.60, marked down for a sale by $5.40 and then had a markdown cancellation of $3.10.
Problem:
The latest selling price is:
a) $32.30.
b) $37.70.
c) $27.40.
d) $32.26.
Note: Please provide reasons to support your answer.