You still need to know the value of Purchases, and if i'm not wrong, the formulae is COS/Avg Inv
A price markup is an increase in the price the dealer sells that he ensures in order to gain guaranteed profit. If the markup is 20%, this means that he added 20% of what he paid for the car, and used this price for sale. Therefore, we let x be the price the dealer paid for the car.
$5999 = x + 0.2x = 1.2x
x = $4999
Thus, the dealer paid $4999 originally for the car.
Quotations, Random Lists, Over-used clichés, Limit your use of the word “passion”, And Stilted vocabulary.
