Tennessee Virtual Enterprise Blog

Your cost to "purchase" your inventory is based on a real-world analysis. Have students compare wholesale, or bulk, prices and come up with their own price. Then, you go the veinternation.org and enter the wholesale market place and enter your prices. You should be fair, but no one knows (but you) what you are paying. As for "selling" cost, you determine your markup up price. Have your students decide how much they want to sell it for by searching real-world firms. For example, some firms pay $6 for a T-shirt, then their mark up price is 50%. So 50% of $6 is $3, so the selling price of the T-shirt is $9. Therefore they profit $3 a shirt. Hope this helps.