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Determine the initial markup for a retailer

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Question 1: Determine the initial markup% for a retailer that has the following plans for the next season:

Planned net sales = $2,000,000

Markdowns = $500,000

Expenses = 25%

Profit = 13%

Cash discounts = 3% (of net sales)

Shortages = $10,000

Employee discounts = $50,000

Reference no: EM132540677

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