A retailer bought 10 000 units of cell phone cases for $55 000.00. On delivery, it was realized that not all the cases were of the same quality. Hence they were classified as high quality, average quality and poor quality. The 4200 high quality cases were sold at a markup of 120% of cost, the 2800 average quality cases were sold at a markup of 80% of the cost, and the remaining were sold at cost price.
a) What is the unit selling price at which each of the three classifications were sold?
b) If overhead is 18% of the cost, what is the amount of profit realized on the purchase?

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The Answer of A retailer bought 10 000 units of cell phone cases for $55 000.00. On delivery, it was realized that not all the cases were of the same quality. Hence they were classified as high quality, average quality and poor quality. The 4200 high quality cases were sold at a markup of 120% of cost, the 2800 average quality cases were sold at a markup of 80% of the cost, and the remaining were sold at cost price.
a) What is the unit selling price at which each of the three classifications were sold?
b) If overhead is 18% of the cost, what is the amount of profit realized on the purchase?

A Retailer Bought 10 000 Units of Cell Phone Cases