Retail Math Help - Maintained markup percent (net sales for a shoe department)

[sam23]

Hi, I need help on a calculating maintained markup percent. The net sales for a shoe department were $650,000. Calculate the maintained markup percent if the department has the following figures: Net purchases $350,000 ; opening inventory $175,000 ; closing inventory $220,000 ; cash discounts $8,5000 ; Alteration costs $4,2000 ; Freight inward $5,000

 

[stapel]

Hi, I need help on a calculating maintained markup percent. The net sales for a shoe department were $650,000. Calculate the maintained markup percent if the department has the following figures: Net purchases $350,000 ; opening inventory $175,000 ; closing inventory $220,000 ; cash discounts $8,5000 ; Alteration costs $4,2000 ; Freight inward $5,000

Would it be correct to take "maintained markup" as meaning "markup as a percentage of the selling price"?

What computations have you done with the purchases, opening and closing inventory values, and the various costs? What did you conclude? Where are you stuck?

Please be complete. Thank you!