Author Question: This type of markup is the difference between net sales and the gross cost of merchandise sold. It ... (Read 58 times)

geodog55 · **on:** Sep 11, 2018

This type of markup is the difference between net sales and the gross cost of merchandise sold. It is expressed as a percent of net sales and does not reflect deductions for cash discounts and workroom costs. It represents the actual markup achieved for a selling period.

a. Initial
b. Maintained
c. Cumulative
d. Individual

Question 2

The owner of Dee Dee's Sport Shop plans to purchase approximately 10,800 (retail) worth of sweaters. She will operate with a 54 markup. Her first purchase is for 5 dozen sweaters costing 18.00 each that she plans to retail for 34.00 each. What markup percent must be obtained on the balance of sweaters in order to average a 54 markup?

What will be an ideal response?