An Electronics Store Purchases a Certain Video Game from the Manufacturer

question 10

Short Answer

An electronics store purchases a certain video game from the manufacturer, but in a mass amount of clutter the original purchase price is lost. The store sells the game at a mark-up of 120% over the purchase price. A coupon which the store offers in the local newspaper will reduce the price by 20%. With the coupon, the profit made on the sale of the video game is $5.76. What was the original purchase price of the video game? Give your answer as a decimal rounded to the nearest hundredth.

Examine the enforcement of contract provisions limiting consequential damages, with a focus on consumer goods.

Identify the remedies available to sellers and buyers under the Uniform Commercial Code (UCC) when a contract breach occurs.

Understand the statutes of limitation for contracts for the sale of goods under the UCC.

Calculate damages and apply remedies in situations of contract breaches involving the sale of goods.