Calculate Selling Price, Markup Percentage, and Gross Profit Margin for Leah's Athletic Yoga Clothing

What is the selling price for Leah's tank tops and pullovers based on a 60% markup percentage? What is the markup percentage for Leah's yoga pants priced 30% below her competitor's price of $128? What is the gross profit margin for tank tops, pullovers, and yoga pants? Lastly, what are the new prices for all clothing items with a target margin percentage of 45%?

Selling Price Calculation:

Tank Tops: Selling price = Cost + Markup percentage * Cost = $48 + 0.06 * $48 = $76.80

Pullovers: Selling price = Cost + Markup percentage * Cost = $58 + 0.06 * $58 = $92.80

Markup Percentage Calculation:

Yoga Pants: Leah's selling price = Competitor's price - 0.03 * Competitor's price = $128 - $38.40 = $89.60

Profit = Selling price - Cost Price = $89.60 - $54 = $35.60

Markup percentage = Profit/Cost Price × 100% = 35.60/54 × 100% ≈ 65.93%

Gross Profit Margin Calculation:

Tank Tops: Gross profit margin = (Selling price - Cost)/Selling price × 100% ≈ 37.25%

Pullovers: Gross profit margin = (Selling price - Cost)/Selling price × 100% ≈ 37.50%

Yoga Pants: Gross profit margin = (Selling price - Cost)/Selling price × 100% ≈ 39.16%

New Prices Calculation:

Tank Tops: New selling price = Cost/(1 - Target margin percentage) = $87.27

Pullovers: New selling price = $105.45

Yoga Pants: New selling price = $98.18