Question: Determine the maintained markup percent and gross margin percent for a department with the following figures: (19 points) Net sales $350,000 Net purchases 135,600 Opening

Determine the maintained markup percent and gross margin percent for a department with the following figures: (19 points)

Net sales $350,000

Net purchases 135,600

Opening inventory 120,000

Closing inventory 82,000

Freight inward 6,400

Cash discounts 8,950

Alteration costs 4,950

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