1.The dress shirt department began this season with an opening inventory of $380,000 at retail ($250,000 at cost).So far, the department buyer has made new purchases of $420,000 at retail ($280,000 at cost).What is the cumulative markup% for the total merchandise handled including both the opening inventory and the purchases?(You may want to use the following grid to help your calculation.)(3 points)

Cost

Retail

MU%

Opening inventory

PurchasesSTD

Total Merchandise Handled