By Dr. John T. Drea, Western
Illinois University
Calculating Markup
lRingo Boot Manufacturing produces a
pair of medium quality
boots for $45, and marks up each pair 10% before selling them to a wholesaler. The wholesaler’s markup is 20% before selling the boots to a retailer. The retailer marks the boots up 50% before selling them to the consumer.
lWhat
is the selling price for the manufacturer, wholesaler, and
retailer?