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Calculating percent markdowns on products

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Consider the concepts markup and markdown. Now apply your knowledge of these models to a practical problem.

Please respond to all of the following prompts in the discussion:

1. Go to http://www.bestbuy.com. Find a product with a rebate, or instant savings. The weekly ad is a good way to find products with rebates. Use the zip code 48824 if you do not have a local Best Buy store.
2. Calculate the percent markdown after rebate for the product found in part 1.
3. List three pros and three cons to the practice of markdowns/markups. Debate these points.

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Solution Preview

1. After I go to bestbuy.com, I find a WD - My Passport 1TB External USB 3.0/2.0 Portable Hard Drive - Black @

https://deals.bestbuy.com//featured+deals/product/4911796/wd++my+passport+1tb+external+usb+3020+portable+hard+drive++black

The original price ...

Solution Summary

The solution gives detailed steps on computing percent markdown using the case of Bestbuy and deep discussion on pros and cons to the practice of markdowns/markups .

$2.19
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Marking up Merchandise

Compare and contrast the three methods of marking up merchandise (based on cost, based on selling price, and marking up perishables).

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