In October, a HARDWARE STORE purchased snow shovels for $8 each. The original markup was 50% based on the selling price. In December, the store had a sale and marked down the shovels by 20%. By January 1, the sale was over and the shovels were marked up 15%. In March, the store held a clearance sale of all winter tools by having a final markdown of 60%. What was the final selling price of the shovels? (Round to the nearest cent.)

8(1+.50)(1-.20)(1+.15)(1-.60) = 4.42

To find the final selling price of the shovels, we need to follow the steps of the price changes.

Step 1: Original Markup in October
The hardware store purchased snow shovels for $8 each. The markup was 50% based on the selling price. This means that the store intended to sell the shovels for $8 + 50% of $8 = $8 + $4 = $12 each.

Step 2: December Sale
In December, the store marked down the shovels by 20%. To find the new price, we need to subtract 20% of $12 from the original price.

20% of $12 = 0.20 * $12 = $2.40

The new price after the December sale is $12 - $2.40 = $9.60 each.

Step 3: January Markup
By January 1, the sale was over, and the shovels were marked up by 15%. To find the new price, we need to add 15% of $9.60 to the previous price.

15% of $9.60 = 0.15 * $9.60 = $1.44

The new price after the January markup is $9.60 + $1.44 = $11.04 each.

Step 4: March Clearance Sale
In March, the store held a clearance sale with a final markdown of 60%. To find the new price, we need to subtract 60% of $11.04 from the previous price.

60% of $11.04 = 0.60 * $11.04 = $6.62

The final selling price after the March clearance sale is $11.04 - $6.62 = $4.42 each (rounded to the nearest cent).

To find the final selling price of the shovels, we need to go through the different stages of markup and markdown.

Stage 1: Markup of 50%
The store purchased the snow shovels for $8 each, and the markup was 50% based on the selling price. This means the store added an additional 50% of the selling price to the cost price.
To calculate the selling price after the markup, we can use the formula:
Selling Price = Cost Price + Markup Amount
Markup Amount = Markup Rate * Cost Price

Markup Amount = 50% * $8 = $4
Selling Price = $8 + $4 = $12

Stage 2: Markdown of 20%
In December, the store marked down the shovels by 20%. This means the selling price was reduced by 20%.
To calculate the selling price after the markdown, we can use the formula:
Selling Price = Original Selling Price - Markdown Amount
Markdown Amount = Markdown Rate * Original Selling Price

Markdown Amount = 20% * $12 = $2.40
Selling Price = $12 - $2.40 = $9.60

Stage 3: Markup of 15%
By January 1, the sale was over, and the shovels were marked up by 15%. This means the selling price increased by 15%.
To calculate the selling price after the markup, we can use the formula:
Selling Price = Original Selling Price + Markup Amount
Markup Amount = Markup Rate * Original Selling Price

Markup Amount = 15% * $9.60 = $1.44
Selling Price = $9.60 + $1.44 = $11.04

Stage 4: Clearance Sale - Final Markdown of 60%
In March, the store held a clearance sale with a final markdown of 60%. This means the selling price decreased by 60%.
To calculate the final selling price after the clearance sale, we can use the formula:
Selling Price = Original Selling Price - Final Markdown Amount
Final Markdown Amount = Final Markdown Rate * Original Selling Price

Final Markdown Amount = 60% * $11.04 = $6.62
Selling Price = $11.04 - $6.62 = $4.42

Therefore, the final selling price of the shovels, after all the markups and markdowns, is $4.42.