Assignment:
1. Why do many department stores seek a markup of about 40 percent when some discount houses operate on a 20 percent markup!
2. A producer distributed its riding lawnmowers through wholesalers and retailer. The retail selling price was $800. and the manufacturing cost to the company was $312. The retail markup was 35 percent and the wholesale markup 20 percent. (a) What was the cost to the wholesaler! To the retailer? (b) What percentage markup did the producer take?