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What initial markup percentage is needed

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Problem - A buyer plans, for the period, net sales of $1,500,000, with a 49% gross margin. The acceptable markdowns are 42%, with employee discounts at 1%, and planned shortages of 2.5%. Cash discounts to be earned are estimated at 12%, and alteration costs are 0.5%. What initial markup percentage is needed to achieve the desired results?

Reference no: EM132887648

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