## General Question

# Desperate need of math homework help! (Merchandise Math)

Asked by ava (977)
February 25th, 2008

I have been stuck on this one problem for hours…please help me through the steps to figuring out the problem. The answer is: 47.2% initial markup (I just need to know how to get there!)

The problem:

Determine the initial markup for a designer boutique that has the following projections for next season:

planned sales=$4,000,000

Markdowns=$600,000

Expenses=38%

Cash Discounts=4%

Shortages=$20,000

Profit=5%

Formula: Initial MU%=Gross Margin%+Retail Reduction% divided by 100%+ Retail Reduction%

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