TopKnotch Mfg. Co. has a production cost of $280. It sells its product to a wholesaler for $400. The wholesaler then sells the item to retailers for $500 and the retailers sell the item for $1,000.
A. What is the retailer’s markup percentage on selling price?
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B. What is the wholesaler’s markup percentage on selling price?
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C. What is the manufacturer’s markup percentage on cost?
