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What initial markup percentage does the buyer need

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Problem - During the Fall season, a retailer determined that in order to meet the next season's planned sales, the total amount of merchandise required next season was $360,000 at retail, with an initial markup goal of 52%. At the beginning of the next season, the merchandise on hand (opening inventory) came to $80,000 at retail, with a cumulative markup of 49% on these goods. For the coming season, what initial markup percentage does the buyer need to achieve on any new purchases?

Reference no: EM132886504

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