Widgets are very common commodities for the purpose of this question.
Nope. Send payment by pony express.
Well, many of us had assumed it was a product like jeans rather than a commodity like cotton.
You've broken everybody's pencil, Mouse. Is it one of those Zeno things? Why do you think peoples should put up with a routine such as this?
You guys are no fun. I've had many people tell me $1.50. I'll whip out six quarters, divide them in two piles of three (50/50), then say, "Okay, now set aside $1.00 for your widget supplier." They just look very confused and start asking Google....
Not near enough info to calculate profit - what’s the business structure of the company that owns the widget up for sale? Sole proprietorship; LLC; partnership? Is it public? If so, how many shares do you own? Are you looking for EBITDA, or just EPS? Don’t leave us hanging!
Common mistake. Most people don't know the difference between markup and profit.
For instance, you can mark something up 100%, but unless you have no cost in it, you cannot make 100% profit.
Don't forget NY state tax is 84 %.
You got it. Many people--including a good number in business for themselves--do not know the difference between markup and profit.
MM, I want to hear allllll about how this question came into being on Wed at lunch.
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