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Discount Electronics buys stereos for $830 less 37.5% and 12.5%. Expenses are 20% of cost...

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Accounting

Discount Electronics buys stereos for $830 less 37.5% and 12.5%. Expenses are 20% of cost and the required profit is 15% of the regular selling price. All merchandise is marked with a price so that the store can advertise a discount of 30% while still maintaining its regular markup. During the annual clearance sale, the new regular selling price of unsold items is marked down 50%. What operating profit or loss does the store make on items sold during the sale?
1.**Calculate the cost price after both discounts.**
2.**Determine the expenses and add them to get the total cost.**
3.**Find the regular selling price using the markup information.**
4.**Calculate the selling price during the annual clearance sale.**
5.**Determine the operating profit or loss.

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