James is trying to determine the best price for his new fishing poles and thus uses the sales price as a basis of calculating the markup percentage.He is using _________.

Question

Quizplus · Accepted Answer

In most applications, when a marketing manager simply refers to "markup," he or she is referring to this calculation-markup on sales price, which uses the sales price as a basis of calculating the markup percentage. This is because most important items on financial reports (gross sales, revenue, etc.) are sales, not cost, figures.

James Is Trying to Determine the Best Price for His