Question

Macy's buys white, pinpoint oxford blouses at $14 each and sells them at $30 each. macy's percentage (of cost) markup is ________ percent.

Answer 1

To find Macy's percentage of cost mark up:

First; we need to find the Gross Profit Margin
Gross profit margin = sales price - unit cost
Gross profit margin = $30 - $14
Gross profit margin = $16

Then; we will find the mark up percentage:
Markup percentage = gross profit margin/unit cost
Markup percentage = ($16/$14)(100) = 114.29%