Blog

Which is the correct order that various types of markups are calculated?

Keystone markup means?

The buyer for housewares reduced 29 copper kettles from $28.00 to $17.99 each for a special sale. During the sale 11 of the kettles were sold. After the sale, the remaining kettles were marked back up to $28.00. What was (a) total markdown, (b) markdown cancellation, and (c) net markdown?

Using the following figures, determine gross margin percent. Net Sales                                $600,000 Alterations                               $11, 000 Cash Discounts                          $9,000 Gross Cost of Merch. Sold    $325,000

Select the best ‘series’ of trade discounts (e.g. the series that most benefits the buyer):

For a department with the following figures:                                                                                     $ Cost                          $ Retail                                   Net Sales                                                                                 56,000.00                         Gross Cost of Merch. Sold                 $35,000.00                         Total Cost of Merch. Sold                  $38,500.00   Find:   Gross Margin percent

Find the maintained markup percent for a department with the following figures: Net Sales                                       $875,000 Alterations                                       $3,200 Cash Discounts                                  $5,600 Gross Cost of Merch. Sold           $410,700

In the initial markup formula, you must be sure to include figures to cover:

The “cost of merchandise sold” in the Skeletal Statement is technically:

Determine the cumulative markup percentage achieved when the cost of the opening inventory is $204,000 and the cost of all purchases to date is $1,352,700; total retail of opening inventory is $400,000 with retail purchases of $2,700,000.