Purpose of Assignment
The purpose of the assignment is to provide students an opportunity to use Microsoft Excel® to practice the concepts of trade discounts, invoicing, markups, and markdowns.
Resources: Mathematics of Buying and Selling Exercises Excel® Template, Excel® 2016 Essential Training
Save the Mathematics of Buying and Selling Exercises Excel® Template to your computer.
Read the instructions on the first tab.
Complete the ten exercises located in the template.
Click the Assignment Files tab to submit your assignment.
Nordstrom plans to mark up a Brahmin Croc Embossed Laptop Case $130.50 over cost, which is a 58% markup based on the cost. Find the cost, the selling price, and the rate of the selling price.
Ronin Copies marks up signs that sell for $49. The markup is 80% based on the selling price. What is the cost and the amount of markup of a sign?
Lowe’s reduced a Maytag dishwasher 12.563%. If the dishwasher was priced at $398, find the amount of markdown and the reduced price.
Fresh Food Market pays $0.25 per pound for 300 pounds of apples. On average, 5% of the apples will spoil before they sell. Find the selling price per pound needed to obtain a 180% markup on cost.
Find the net price of the PC software SystemWorks that lists for $70 and has a discount rate of 12%. Use the system of complements.
Dylan Murphy currently receives a trade discount series of 5/10/10 on merchandise purchased from a furniture company. He is negotiating with another furniture manufacturer to purchase similar furniture of the same quality. The first company lists a dining room table and six chairs for $1,899. The other company lists a similar set for $1,800 and a trade discount series of 5/5/10. Which deal is better?
PlumbingStore.com buys one model of tankless water heater that has a list price of $395. The trade discount is 18%. What is the trade discount and net price of the heater?
Federated Department Stores received an invoice dated April 18 that shows a billing for $3,848.96 with terms 2/10, 1/15, n/30. Find the cash discount and net amount if the invoice is paid within 15 days but after 10 days.
Office Max purchased office furniture in the amount of $89,517 and was invoiced with terms of 2/10, n/30. Cash strapped at the time, Office Max decided to make a partial payment of $50,000 within 10 days. How much should be credited to its account? What is the outstanding balance?
Curves Fitness Center received an invoice for $3,097.15 that was dated September 8 with terms of 3/15 ROG. The goods being invoiced arrived on September 12. By what date must the invoice be paid to get the cash discount? How much should be paid?