Mrsblack1277 Mrsblack1277

27-02-2020
Business

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Ace Hardware purchased 15 shovels from Skill Company for $7.00 each. Ace's markup is 33% on selling price. What should Ace charge for the shovels? (Round to hundredths.)

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kaympoey08 kaympoey08

28-02-2020

Answer:

The correct answer is $9.31

Explanation:

Margin = Gross profit/ cost

33% = x / $7.00

Gross profit = $7.00 *0.33= $2.31

Selling price = $7.00 + $2.31 = $9.31

Ace Hardware should charge $9.31

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