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19. Determine the initial markup % for the mens sportswear department, which has these figures:...

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Accounting

19. Determine the initial markup % for the mens sportswear department, which has these figures:

Net sales $175,000

Profit 3.8%

Expenses $ 66,000

Employee discounts 1.2%

Markdowns 3.5%

Cash discounts $ 4,375

Shortages $ 1,000

Alteration costs $ 2,000

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