A buyer received 50 skirts retailing for $60 each. For a moonlight madness sale, the price of these skirts was reduced to $40. During the sale, 30 skirts were sold. After the sale was over, the remaining 20 skirts were returned to their original price. All of these skirts were sold for $60. Find the markdown cancellation, net markdown, and net markdown percent.
(Hint:
Markdown Cancellation $ = Markdown Cancel Unit x (Markdown Cancellation Price - Markdown Price
Total Markdown $ = Total Markdown Units X (Original Price - Markdown Price)
Net Markdown $ = Total Markdown $ - Markdown Cancellation $
Net Markdown % = Net Markdown $ / Net Sales $)