Use the following information to answer the next question. Total Asset = $40 million Depreciation = $1.0 million. Basic earning
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The correct statement is "Hockey sticks had their prices reduced by $0. 41 more than baseball bats."
Mark down refers to a reduction in price of an item or good. The reduction is generally done as a percentage of price of the item. The purpose behind mark down is to increase sales volume.
<h3>Calculation of reduction in price:</h3>Given:
Markdown in price of baseball bats is 42%
Cost of baseball bats after markdown is $21.46
Markdown in price of hockey sticks is 29%
Cost of hockey sticks after markdown is $39.05
For calculating the amount of markdown, we need to find the original cost of baseball bats and hockey sticks.
Calculation of cost of baseball bats before markdown:
Hence the markdown in price of baseball bats is
Similarly, for hockey sticks:
Markdown in the cost of hockey sticks is .
Difference in markdown is:
Therefore it can be concluded that markdown in cost of hockey sticks is more as compared to baseball bats by $0.41
Hence the correct statement is "Hockey sticks had their prices reduced by $0. 41 more than baseball bats."
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