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Maintained markup is 39 percent net sales are $52000 alterations are $1700 shrinkage is $500 markdowns

Maintained markup is 39 percent, net sales are $52,000, alterations are $1,700, shrinkage is $500, markdowns are $5,000, employee discounts are $2,000, and cash discounts are 2 percent. What are gross margin in dollars and initial markup as a percentage? Explain why initial markup is greater than maintained markup.

May 01 2020 View more View Less

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