Author Question: Determine the maintained markup percent for a department with the following figures: Net sales ... (Read 11 times)

cherise1989 · **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?

jesse.fleming · **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