A men's outerwear buyer purchased a silk embroidered bomber coat for $61.00, and the planned markup for the outerwear department is typically 55%. However, the buyer has decided to mark up this amazing jacket to 58%. What should be the retail price of each jacket? What would be the difference in dollars between the current retail price and the departmental markup retail price?
Added by Olivia A.
Step 1
Calculate the markup amount: Markup amount = Cost x Markup percentage Markup amount = $61.00 x 0.03 (58% - 55%) Markup amount = $1.83 Show more…
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