Blog

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. 

The markup percentage for an item with a retail price of $250 and a cost of $90 is which of the following?

The markup percentage achieved on all merchandise available for sale from the beginning of a given period, plus the markup of all purchases received in the season to date is what type of markup? 

A dress buyer plans to buy $10,000 in retail worth of merchandise. This same buyer requires a 49.00% MU. The first purchase is 100 coats costing $31.75, with a planned retail of $55. What is the COST value of the NEEDED assortment?