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Author Question: Determine the maintained markup percent for a department with the following figures: Net sales ... (Read 14 times)

cherise1989

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on: Sep 11, 2018
Determine the maintained markup percent for a department with the following figures:
  Net sales 350,000
  Net purchases 135,600
  Opening inventory 120,000
  Closing inventory 82,000
  Freight inward 6,400
  Cash discounts 8,950
  Alteration costs 4,950
 
  a. 45.55
  b. 49.9
  c. 48.57
  d. 51.75

Question 2

Determine the Retail Markup for a famous brand gown with a wholesale cost of 650 and a manufacturer's suggested retail price of 1,600 . Then calculate the markup factor based on cost.
 
  What will be an ideal response?


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jesse.fleming

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Reply #1 on: Sep 11, 2018
Answer to Question 1

c. 48.57

Answer to Question 2

Markup based on retail = MU  Retail
= (1,600 - 650)/1600
= 59.38
Markup factor based on cost = 1600/650
= 2.46 or 2.5


cherise1989

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Reply 2 on: Sep 11, 2018
Great answer, keep it coming :)

Liddy

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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