Question

Fad City sells novel clothes that are subject to a great deal of price volatility. A recent item that cost $20 was marked up $12, marked down for a sale by $6 and then had a markdown cancellation of $3. The latest selling price is: Multiple Choice $35. $29. $23. $26.

Answer 1

Answer:

$29

Explanation:

Data provided in the question:

Initial Cost = $20

Mark up = $12

Mark down for sale = $6

Markdown cancellation = $3

Now,

The latest selling price

= Initial Cost + Mark up - Mark down + Markdown cancellation

or

The latest selling price = $20 + $12 - $6 + $3

or

The latest selling price = $29

Hence,

The answer is option $29