Question: Determine the initial markup percent that will enable the department to achieve a 7.2% profit, using the following figures: Expenses: 39.1%; Expenses: $40,672.42; Markdowns: 6.4%;

Determine the initial markup percent that will enable the department to achieve a 7.2% profit, using the following figures: Expenses: 39.1%; Expenses: $40,672.42; Markdowns: 6.4%; Employee discounts: $498.95; Cash discounts: $1,622.00; Shortages: 1.5%; Alteration Costs: $210.56

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