Question: Determine initial markup percent that will be required to achieve a 4% profit, using the following figures. Expenses 39.1% Employee Discounts 6.8% Markdowns 1.0% 40%Shortages

Determine initial markup percent that will be required to achieve a 4% profit, using the following figures. Expenses 39.1% Employee Discounts 6.8% Markdowns

Determine initial markup percent that will be required to achieve a 4% profit, using the following figures. Expenses 39.1% Employee Discounts 6.8% Markdowns 1.0% 40%Shortages 1.0% Alterations 0.5% Cash Discounts 0.6% Profit 4.0% 48.7% 41.9% 47.6% 40% A product has a markup of $23.50. This represents 56% markup based on cost. What is the selling price of this product? $65.46 $41.96 $36.66 $45.99

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