If sales is $50,000 and cost of merchandise sold is $35,000,how much would be the markup percent?

Question

Quizplus · Accepted Answer

First, we need to calculate the gross profit, which is the difference between sales and cost of merchandise sold. 
Gross Profit = Sales - Cost of Merchandise Sold 
Gross Profit = $50,000 - $35,000 
Gross Profit = $15,000

Next, we need to calculate the markup percentage, which is the gross profit as a percentage of the cost of merchandise sold.

Markup Percentage=( Gross Profit/Cost of Merchandise Sold)×100

Markup Percentage = ($15,000/$35,000) x 100 
Markup Percentage = 42.9%

Therefore, the best choice is C, 42.9%.

If Sales Is $50,000 and Cost of Merchandise Sold Is