This year, the buyer of the dress department hopes to increase annual profits (which were 2.5% of
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Question:
- This year, the buyer of the dress department hopes to increase annual profits (which were 2.5% of net sales, last year) from $10,000 last year to $20,000 this year.
- Operating expenses = 25%
- retail reductions = 16%
- no cash discounts
- no alteration costs
what was the initial markup %? (looking for % for last year, the information above is last years information)
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: