1) The dress shirt department began this season with an opening inventory of $380,000 at retail($250,000 at cost). So far, the department buyer has made new purchases of $420,000 at retail($280,000 at cost). What is the cumulative markup% for the total merchandise handledincluding both the opening inventory and the purchases? (You may want to use the followinggrid to help your calculation.)CostRetailMU%Opening inventoryPurchases STDTotal MerchandiseHandled2) The jewelry department had the opening inventory of $12,000 at cost with a markup of 55%.During the season, the department has purchased additional merchandise worth 45,000 at retailon which a 49% markup was applied. What is the cumulative markup of this department indollars and percentage? (You may want to use the grid below to help your calculation.)CostRetailMU%Opening InventoryPurchasesTotal MerchandiseHandled(a) $Cumulative markup =(b) Cumulative markup% =

The dress shirt department began this season with an opening inventory of $380,000 at retail ($250,000 at cost). So far, the department buyer has made new purchases of $420,000 at retail ($280,000 at cost). What is the cumulative markup% for the total merchandise handled including both the opening inventory and the purchases? (You may want to use the following grid to help your calculation.) Cost Retail MU% Opening inventory Purchases STD Total Merchandise Handled

The dress shirt department began this season with an opening inventory of $380,000 at retail ($250,000 at cost). So far, the department buyer has made new purchases of $420,000 at retail ($280,000 at cost). What is the cumulative markup% for the total merchandise handled including both the opening inventory and the purchases? (You may want to use the following grid to help your calculation.) Cost Retail MU% Opening inventory Purchases STD Total Merchandise Handled

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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