3. An electronic buyer needs a retail phones for the holiday season. If a markup of 60% is desired and the merchandise in stock already totals $22,3000 at retail and $9,875 at cost, what markup percentage will the buyer need to attain on the remaining purchases in order to achieve the desired 60% markup for the assortment? Total needs Purchases Balance Retail Cost Markup %

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.