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July 1, 2015

Homework Help: Retail Math

Posted by Tomika Davis on Saturday, September 14, 2013 at 1:36pm.

If an accessory department shows a gross margin of 53 percent and retail reductions amounting to 16 percent, what is the initial markup%?

I have calculate:

IMU%= (53% + 16%) / (100% + 431.25)
IMU% = 431.25% / 123.18%
IMU% = 350.09% x 100%
IMU%= 350.09 is the answer correct?

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