Ashop owner purchases items to sell in her store. she purchases a lamp for $140 and sells it for $200. calculate the following. (note: show all calculations).a. dollar markupb. markup percentage on costc. markup percentage on selling price

a. $60, b. 42.86% c. 30%

Explanation:

Cost of the lamp = $140

Selling price = $200

a. dollar markup = Selling price - cost price = $60

b. markup percentage on cost = = $60/140 = 42.86% approx

c. markup percentage on sales = = $60/200 = 30%

Mark up refers to the price above cost which a seller charges to cover costs and profit.

While calculating markup percentage, either cost can be taken as a base which would refer to mark up percentage on cost or else sales price can be taken as a base which is referred to as markup percentage on selling price.

explanation:

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