Essay
The following is Ralley Company's income statement. 
Required:
a.What is the markup percentage on cost of goods sold?
b.What is the markup percentage on total cost?
c.What is the gross margin percentage?
d.If the company wants to sell a new product that costs $48 wholesale while keeping the same markup structure, what will be the price of the new product?
Correct Answer:
Verified
a.$218,000 ÷ $324,000 = 0.667 or 66.7%
b...View Answer
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Correct Answer:
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b...
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