A department has planned sales of $220,000, expenses of $85,000, reductions of $18,000, cash discounts of...

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A department has planned sales of $220,000, expenses of $85,000, reductions of $18,000, cash discounts of $1,800, and alteration costs of $3,200. Determine what initial markup % will result in a 7.0% profit. A department has planned sales of $220,000, expenses of $85,000, reductions of $18,000, cash discounts of $1,800, and alteration costs of $3,200. Determine what initial markup % will result in a 7.0% profit.

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To determine the initial markup percentage that will result in a 70 profit we need to calculat... View the full answer