Ask Question
BusinessBusiness
5 October, 21:30

The basic retailing equation states that the cost of an item is not equal to the selling price plus the markup.

+2
Answers (1)
  1. 5 October, 21:46
    0
    Yes definitely. If the cost of an item is worth the same as the selling price, then you will not earn anything. Basically, the selling price already has the markup, so the selling price is definitely supposed to be higher than the cost of the item. For example, I bought a TV for 30 dollars. I would want to sell it at a selling price of 70 dollars. The difference of 40 dollars is my markup. The markup can also be expressed as a percentage if you divide the difference with the selling price.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The basic retailing equation states that the cost of an item is not equal to the selling price plus the markup. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What is meant by "capacity in chunks", and why is that a factor in capacity planning?
Answers (1)
An automobile manufacturer claims that the average gas mileage of a new model is 35 miles per gallon (mpg). A consumer group is skeptical of this claim and thinks the manufacturer may be overstating the average gas mileage.
Answers (1)
Last year, DJ's Soda Fountains, Inc. reported an ROE = 27 percent. The firm's debt ratio was 50 percent, sales were $9 million, and the capital intensity ratio was 1.5 times. What is the net income for DJ's last year? Multiple Choice a. $1.22m b. $1.
Answers (1)
Suppose the government introduces a $4 per unit tax on the supply of automobile tires (suppliers are responsible for submitting the tax payment).
Answers (1)
Securities and investments and banking services are careers associated with which of the following career clusters? A. Business Management and Administration B. Finance C. Human Services D. Marketing
Answers (1)
New Questions in Business
Based on the corporate valuation model, the total corporate value of chen lin inc. is $900 million. its balance sheet shows $110 million in notes payable, $90 million in long-term debt, $20 million in preferred stock, $140 million in retained
Answers (1)
Larry's lizards and ronaldo's reptiles are competing pet store franchises. both are considering opening a store in the small town of turtleville.
Answers (1)
How does the government of a republic typically shape its economy? A. The government allows citizens to own private businesses. B. The government blocks the ownership of personal property. C. The government owns all homes and other forms of housing.
Answers (1)
For a business credit card, most companies that issue credit, including Visa and Mastercard, specifically state their liability policies: Only cover the first $50.
Answers (1)
In the resource-based view of the firm, examples of tangible resources include: Select one: a. outstanding customer service, innovativeness of products, and reputation b.
Answers (1)
Home » Business » The basic retailing equation states that the cost of an item is not equal to the selling price plus the markup.
Sign Up Forgot Password?