For Your Eyes Only Company Bought Plasma Screen TV Sets

question 153

Essay

For Your Eyes Only Company bought plasma screen TV sets for $11 585 less 4.5%, 3.2%. Overhead is 19% of regular selling price and required profit is 31% of regular selling price. The gas plasma TV sets were marked at a new regular selling price so that the store was able to advertise a discount of 10% while still maintaining its margin. To clear the inventory, the remaining TV sets were marked down 15%.
What operating profit or loss is realized at the clearance price?

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