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Calculate the initial markup percentage required

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"A retailer in a boutique jewelry store has estimated expenses of 49%, markdowns at 15%, and stock shortage at 6.3%. A profit of 4% is desired. Calculate the initial markup percentage required." I understand I would need to find the original retail price to solve this, but I am not given a net sales value or a gross margin value, what formula would I use to solve this if I don't have either of those?

Reference no: EM133148084

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