RETAIL PRICING AND REPRICING OF MERCHANDISE

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RETAIL PRICING AND REPRICING OF MERCHANDISE (MARKUP)

  1. If the men’s buyer purchases pants at a cost of $34.00 and has a markup of $33.00, what will be the retail price for each pair of pants? Cost

$34.00

  1. If the electronics buyer purchases televisions at a cost price of $325.00 and the markup is $249.99, what is the retail price for the televisions?

Cost $325.00

  1. The misses sweater buyer retails cotton sweaters for $45.99, and the markup is $24.24. What is the cost price of each sweater?

Retail

$45.99

  1. A man’s belt retails for $74.00, and the markup is $43.00. What is the cost price? Retail

$74.00

  1. Calculate the markup dollars for a tie if the cost is $23.60 and the manufacturer’s suggested retail price is $59.00. Retail

$59.00

  1. If a necklace retails for $49.00 and the cost is $14.70, what is the markup in dollars and percentage at retail for the necklace? Retail

$49.00

  1. If a pair of brand-name leather boots has a retail price of $249.00 and the cost is $125.00, what is the markup for the boots in both dollars and percentage at retail?

Retail $249.00

Markup Practice Problems Calculate the cost price given the retail and the planned MU %

  1. A pair of sneakers will be ticketed with a retail price of $118.00 and the markup % is 54.0%. What is the cost price for the sneakers? Retail $

$118.00

  1. What is the maximum cost a buyer can pay for a coat that will sell for $550 with a markup of 56.0%?

Retail $ $550.00

  1. You are the jewelry buyer for a large mass-market chain. For the holiday season, you are planning a boxed jewelry “Gifts to Go” promotion for $19.99. The markup for the promotion is planned at 43.0%. What is the maximum cost price that you will pay for the boxed jewelry?

Retail $ $19.99

  1. Given the following departmental markups and average retails per department, what is the maximum cost that the buyer can pay? Retail $ a. Sneakers, 54.4% markup; Retail price $89.00. $89.00
  2. Men’s ties, 65.7% markup; Retail price $38.00. Retail $ $38.00
  3. Boy’s apparel, 47.9% markup; Retail price $14.00 Retail $ $14.00

Calculate the retail price given the cost and the planned MU%

  1. An eye shadow compact costs $25.20, and the markup is 40.0%. What is the retail price of the compact? Cost $

$25.20

  1. A buyer will purchase sweaters at a cost of $37.85, and the planned MU % for the department is 62.0%. What is the minimum retail price for each sweater? What possible retail price for each sweater might be used if you were the buyer of a department store? What about an off-price retailer?

Cost $ $37.85

  1. If a graphic T-shirt costs $8.95 and the MU % is 53.4%, what is the retail price for the T-shirt? What would the pricing strategy be? Cost $

$8.95

Cumulative Markup Practice Problems

Description

  1. A buyer purchased 50 assorted leather briefcases that cost $79.50 each and establishes retail prices based on the style as follows: • 15 zip-top briefcases to retail for $175 each. • 20 messengers to retail for $150 each. • 15 backpacks to retail for $125 each. Find the cumulative markup percentage on this purchase.

Zip Top Messenger

Backpack

MU $ = MU $ =

MU % = MU % =

  1. The sweater buyer is buying 12,000 cashmere crew neck and 8,000 V- neck sweaters at a cost of $32.50. The buyer plans to retail the sweaters as follows: Crew neck to retail at $74.00; V-neck to retail at $79.00
  2. Calculate the IMU $ and IMU % for the crew neck. Quantity 12,000

MU $= Retail -Cost MU $= MU %= MU $/ Retail $

  1. Calculate the IMU $ and IMU % for the V- neck. 8,000

MU $= Retail -Cost MU $= MU %= MU $/ Retail $

  1. Calculate the CMU % for the total buy. Total Cost CMU $ =Total Retail -Total Cost CMU %=CMU $/Total Retail $

Cumulative Markup Application Practice Problems

  1. The jewelry buyer wants to spend $25,000 at retail. The department maintains a 76.7% markup. The buyer needs a minimum of 600 pairs of earrings to cover each branch with an adequate assortment.
  2. What should be the retail price per pair?

Retail Budget $25,000

  1. What should be the cost per pair? Retail $25.00
  2. For a monthly T-shirt buy, you will be spending $22,560 at retail. Orders for $9,980 at cost have been placed. The planned MU % is 51.5%. What is left in retail dollars for you to place? Cost

$9,980.00 Plan/Budget $22,560.00

Last Updated on March 17, 2020