Determine the maintained markup percent for a department with the ...

[cherise1989]

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?

[jesse.fleming]

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]

Thanks for the timely response, appreciate it

[nanny]

YES! Correct, THANKS for helping me on my review