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The Sweet Candy Shop buys 600 pounds of chocolate covered strawberries at $5.59 per pound. If a 10% spoilage rate is anticipate...Asked by david
The sweet candy shop buys 600 pounds of chocolate covered strawberries at $5.59 per pound. If a 10% spoilage rate is anticipated, at what price per pound should the strawberries be sold in order achieve a 60% markup based on cost?
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Answered by
Praveen
Answer: $9.94/pound
Shop paid: 600 lbs X $5.59 = $3,354
Assuming 10% spoilage, shop really purchased only 540 lbs at a total cost of $3,354
The cost to the shop including the spoilage = $6.21/lb
60% markup = $9.94/lb
Shop paid: 600 lbs X $5.59 = $3,354
Assuming 10% spoilage, shop really purchased only 540 lbs at a total cost of $3,354
The cost to the shop including the spoilage = $6.21/lb
60% markup = $9.94/lb
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