Calculate the maintained markup percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). (HINT: Page 196) NOTE. There are four questions associated with this data. You will ultimately complete a complete RIM exercise. Cost ($) Retail ($) Opening inventory 130,410 201,543 Gross purchases 418,390 884,916 Returns to vendors 1,726 3,514 Cash discounts 2,040 Alteration costs 1,620 Freight 1,690 Gross Sales 806,430 Customer returns 60,340 Markdowns 120,630 Markdown cancellations 3,048 Additional markup 360 Employee discounts 1,010 Closing physical inventory 212,803
Calculate the maintained markup percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). (HINT: Page 196) NOTE. There are four questions associated with this data. You will ultimately complete a complete RIM exercise. Cost ($) Retail ($) Opening inventory 130,410 201,543 Gross purchases 418,390 884,916 Returns to vendors 1,726 3,514 Cash discounts 2,040 Alteration costs 1,620 Freight 1,690 Gross Sales 806,430 Customer returns 60,340 Markdowns 120,630 Markdown cancellations 3,048 Additional markup 360 Employee discounts 1,010 Closing physical inventory 212,803
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
chapter 7
9.
Calculate the maintained markup percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). (HINT: Page 196)
NOTE. There are four questions associated with this data. You will ultimately complete a complete RIM exercise.
| Cost ($) | Retail ($) | |
| Opening inventory | 130,410 | 201,543 |
| Gross purchases | 418,390 | 884,916 |
| Returns to vendors | 1,726 | 3,514 |
| Cash discounts | 2,040 | |
| Alteration costs | 1,620 | |
| Freight | 1,690 | |
| Gross Sales | 806,430 | |
| Customer returns | 60,340 | |
| Markdowns | 120,630 | |
| Markdown cancellations | 3,048 | |
| Additional markup | 360 | |
| Employee discounts | 1,010 | |
| Closing physical inventory | 212,803 | |
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