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14. Determine the maintained markup percent and gross margin percent for a department with the following figures: (19 points) Net sales $350,000 Net purchases 135,600

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14. Determine the maintained markup percent and gross margin percent for a department with the following figures: (19 points) Net sales $350,000 Net purchases 135,600 Opening inventory 120,000 Closing inventory 82,000 Freight inward6,400 Cash discounts 8,950 Alteration costs 4,950

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