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Brightwear Apparel had sales of $310,000. Operating expenses were $72,000, and alterations were $500. Planned profit was $35,000, and planned reductions were $2,800. What was the initial markup percentage?

Brightwear Apparel had sales of $310,000. Operating expenses were $72,000, and alterations were $500. Planned profit was $35,000, and planned reductions were $2,800. What was the initial markup percentage?

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...
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What is the initial markup percentage?

Brightwear Apparel had sales of $310,000. Operating expenses were $72,000, and alterations were $500. Planned profit was $35,000, and planned reductions were $2,800. What was the initial markup percentage?
Transcribed Image Text:Brightwear Apparel had sales of $310,000. Operating expenses were $72,000, and alterations were $500. Planned profit was $35,000, and planned reductions were $2,800. What was the initial markup percentage?
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