posted by Geoff .
A retail outlet purchased 400 printers at a list price of $80 less 6%, 3%. The Gross Profit Margin on the printers was 50%. After selling 50% of the shipment, the rest of the printers were marked down to a reduced selling price. When there were only 30 printers left, the outlet marked these down to $51.99. To maintain an average Gross Profit Margin of 35%, what must have been the reduced price of the printers?
what in the world? please help
Gross Profit Margin= Total Sales/total cost
Total cost was 400*80 (1-.06)
Sales= 200*160 + 170*RDS + 30*51.99
Set Gross profit margin = total sales/cos
solve for RDS
i appreciate the quick response, however it still makes no sense to me.. :(