A store plans sales of $1,100,000 and retail reductions of $330,000, and it requires expense, $350,000 and profit $50,000. What should be the initial markup dollars?

Answer:initial markup is $0.510489  or 51.0489%Step-by-step explanation:Given data sales of $1,100,000reductions of $330,000expense, $350,000profit $50,000to find out initial markup  solutionwe know initial markup formula that is given belowinitial markup = (Expenses + Reductions + Profit) ÷ (Net Sales + Reductions)put here all value we get initial markupinitial markup = (Expenses + Reductions + Profit) ÷ (Net Sales + Reductions)initial markup = (350,000 + 330,000 + 50,000) ÷ (1,100,000 + 330,000)initial markup = (730000) ÷ (1,430,000)initial markup = (730000) ÷ (1,430,000)initial markup is $0.510489initial markup is 51.0489%