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A buyer who needs $23,000 worth of goods at retail for May has a planned markup of 59.5%. May orders to date total $4,500 at cost and $9,800 at retail. What markup percentage must now be obtained on the balance of the purchases for May to achieve the planned markup percentage for the month?

Respuesta :

itzamirv2

1. Planned retail value:

Planned Retail Value = 23000 / (1 - 0.595)

Planned Retail Value ≈ 56790.12

2. Remaining retail value needed:

Remaining Retail Value = 56790.12 - 9800

Remaining Retail Value ≈ 46990.12

3. Remaining retail value at cost:

Remaining Retail Value at Cost = (4500 / 9800) * 46990.12

Remaining Retail Value at Cost ≈ 21621.29

4. Markup percentage needed on the remaining purchases:

Markup Percentage = (46990.12 / 21621.29) - 1

Markup Percentage ≈ 1.173

So, the markup percentage that must now be obtained on the balance of the purchases for May to achieve the planned markup percentage for the month is approximately 117.3%.

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