This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Determine the maintained markup percent for a department with the following figures: Net sales ... (Read 40 times)

cherise1989

  • Hero Member
  • *****
  • Posts: 555
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?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jesse.fleming

  • Sr. Member
  • ****
  • Posts: 301
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

  • Member
  • Posts: 555
Reply 2 on: Sep 11, 2018
YES! Correct, THANKS for helping me on my review

pangili4

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Independent assortment produces 50 percent recombinants Independent assortment produces 50 percent recombinants
Fraternal twins share about 50 percent of their segregating genes. Fraternal twins share about 50 percent of their segregating genes.
How would you rate your overall health?” The percent of adults answering “excellent” or ... How would you rate your overall health?” The percent of adults answering “excellent” or ...
The male physique depicted in popular action figures in the 1970s The male physique depicted in popular action figures in the 1970s
How to calculate the DRT to determine which is more effective against the pathogen How to calculate the DRT to determine which is more effective against the pathogen
The following information relates to the Cutting Department of Kittina Corporation for the ... The following information relates to the Cutting Department of Kittina Corporation for the ...
Video: Effect of the environment on coat color in the Himalayan rabbit Animation

For a complete list of videos, visit our video library