Your classmate’s item is not selling and needs to be marked down. Using several sentences, I need to recommend that it is time to put the item on sale. Assume your classmate is usi

Your classmate’s item is not selling and needs to be marked down. Using several sentences, I need to recommend that it is time to put the item on sale. Assume your classmate is using the selling price they found on the internet as their selling price. State a sale price on your classmate’s item that you are recommending and calculate the dollar markdown and the markdown percentage. Show all steps in your calculations.

Classmates Post:
“Manage the Madness” has been in business for 25 years and we always offer our customers the best quality and we have the best prices.
Our 71 Gallon waterproof storage container cost is 89.00
Amazon.com : Keter Marvel Plus 71 Gallon Resin Outdoor Box for Patio Furniture Cushion Storage, Brown : Patio, Lawn & Garden

According to Quora.com, What are the profit margins on plastic storage containers? – Quora, the average markup on containers is approximately 10%-20%.

Since this is a commodity item, we will sell it at a 14% markup.

$89.00*0.14(14%)=$12.46

89.00+12.46=101.46

Include these items in your post:

• Written recommendation
• Sale price recommended
• Dollar markdown
• Markdown percentage
• Steps used for your calculations