Clipboard Font Alignment Number Styles D82 =D80D81 B D E F G H 25 26 Calculating Gross Profit Precent (Margin) 27 There are three financial parts of an item: 28 COST OF GOODS (COG)- What the retailer pays for the item 29 SUGGESTED RETAIL PRICE (SRP). What the retailer sells the item for 30 GROSS PROFIT S- The difference between COG and RETAIL PRICE 31 32 Practice #1: If an item costs $1.65 and it retails for 82.50 what are the gross profit dollars on the item ? 30 34 SRP 2.5 Fill in Answer 35 COG 1.65 Fill in Answer 36 Gross Profit 0.85 Fill in Answer 37 Calculating Gross Profit 38 Gross profit can be expressed as a dollar amount or as a percent. 39 Gross Profit Percent is also referred to as MARGIN 40 The formula for calculating gross profit percent (Margin) is: 41 Margin-Gross Profit $. SRP 42 OR 43 Margin - (SRP-COG) SRP 45 Practice 2: If an item costs $1.65 and it retails for $2.50 what is the gross profit percent or margin on the item? 40 47 Gross Profit 0.85 Fill in Answer 48 SRP 2.5 Fill in Answer Margin 0.3 Fill in Answer 50 Round margin to I decimal place 51 Margin vs. Mark Up 52 Margin should not be confused with MARK UP 53 MARK-UP is the percent over the cost that the retailer is charging the consumer. 54 The formula for calculating mark-up percent is: 55 Mark-Up % - Gross Prolit Dollars + COG Exercise Principles of Retail Math Pricing Formula Reference Sheet D82 fx =D80*081 G H B D 49 Margin 0.3 Fill in Answer 50 Round margin to I decimal place 51 Margin vs. Mark Up 52 Margin should not be confused with MARK-UP 53 MARK-UP is the percent over the cost that the retailer is charging the consumer. 54 The formula for calculating mark-up percent is: 55 Mark-Up % - Gross Profit Dollars + COG 56 57 Practice #3: If an item costs $1.65 and it retails for $2.50 59 Gross Profits 0.85 Fill in Answer 60 COG 1.65 Fill in Answer 61 Mark Up% 0.515 Fill in Answer 62 Calculating A Suggested Retail Price (SRP) 63 Calculation used for the SRP of a product with strict margin guidelines 64 The formula for calculating SRP when you have a cost and a known margin is: 65 SRP - COG (1.Gross Marin %) 67 Practice #14: If an item costs $1.65 and the retailer requires a 34% margin 69 COG 1.65 Fill in Anger 70 1. Margin 0.7 Fill in Anne 71 2.857 Fill in Anwer 72 Calculating A a Cost (COG) 73 Commonly used when retailers enforce strict Margins and the SRP is known 74 The calculation is often used to figure allowances 75 The formula for calculating COG when you have a SRP and a known margin is: 76 COG- (1-Margin) x SRP 78 Practice #5: If an item sells at $2.50 and the retailer requires a 34% margins, 79 1-Marin 0.7 80 Exercise Principles of Retail Math Pricing Formula Reference Sheet SRP + Ready CP Type here to search E F G H Fill in Answer Fill in Answer Fill in Answer A B D 55 SRP - COG + (1 -Gross Margin %) 57 Practice #4: If an item costs $1.65 and the retailer requires a 34% margin 59 COG 1.65 70 1-Margin 0.7 71 SRP 2.357 72 Calculating A a Cost(COG) 73 Commonly used when retailers enforce strict Margins and the SRP is known. 74 The calculation is often used to figure allowances. 75 The formula for calculating COG when you have a SRP and a known margin is: 76 COG- (1-Margin ) x SRP 78 Practice #5: If an item sells at $2.50 and the retailer requires a 34% margins, 79 80 1-Margin 0.7 81 SRP 2.857 82 COG 1.650 83 84 85 86 87 88 89 90 91 92 93 94 95 Fill in Answer Fill in Answer Fill in Answer 96 Exercise Principles of Retail Math Pricing Formula Reference Sheet Ready CA e Clipboard Font Alignment Number Styles D82 =D80D81 B D E F G H 25 26 Calculating Gross Profit Precent (Margin) 27 There are three financial parts of an item: 28 COST OF GOODS (COG)- What the retailer pays for the item 29 SUGGESTED RETAIL PRICE (SRP). What the retailer sells the item for 30 GROSS PROFIT S- The difference between COG and RETAIL PRICE 31 32 Practice #1: If an item costs $1.65 and it retails for 82.50 what are the gross profit dollars on the item ? 30 34 SRP 2.5 Fill in Answer 35 COG 1.65 Fill in Answer 36 Gross Profit 0.85 Fill in Answer 37 Calculating Gross Profit 38 Gross profit can be expressed as a dollar amount or as a percent. 39 Gross Profit Percent is also referred to as MARGIN 40 The formula for calculating gross profit percent (Margin) is: 41 Margin-Gross Profit $. SRP 42 OR 43 Margin - (SRP-COG) SRP 45 Practice 2: If an item costs $1.65 and it retails for $2.50 what is the gross profit percent or margin on the item? 40 47 Gross Profit 0.85 Fill in Answer 48 SRP 2.5 Fill in Answer Margin 0.3 Fill in Answer 50 Round margin to I decimal place 51 Margin vs. Mark Up 52 Margin should not be confused with MARK UP 53 MARK-UP is the percent over the cost that the retailer is charging the consumer. 54 The formula for calculating mark-up percent is: 55 Mark-Up % - Gross Prolit Dollars + COG Exercise Principles of Retail Math Pricing Formula Reference Sheet D82 fx =D80*081 G H B D 49 Margin 0.3 Fill in Answer 50 Round margin to I decimal place 51 Margin vs. Mark Up 52 Margin should not be confused with MARK-UP 53 MARK-UP is the percent over the cost that the retailer is charging the consumer. 54 The formula for calculating mark-up percent is: 55 Mark-Up % - Gross Profit Dollars + COG 56 57 Practice #3: If an item costs $1.65 and it retails for $2.50 59 Gross Profits 0.85 Fill in Answer 60 COG 1.65 Fill in Answer 61 Mark Up% 0.515 Fill in Answer 62 Calculating A Suggested Retail Price (SRP) 63 Calculation used for the SRP of a product with strict margin guidelines 64 The formula for calculating SRP when you have a cost and a known margin is: 65 SRP - COG (1.Gross Marin %) 67 Practice #14: If an item costs $1.65 and the retailer requires a 34% margin 69 COG 1.65 Fill in Anger 70 1. Margin 0.7 Fill in Anne 71 2.857 Fill in Anwer 72 Calculating A a Cost (COG) 73 Commonly used when retailers enforce strict Margins and the SRP is known 74 The calculation is often used to figure allowances 75 The formula for calculating COG when you have a SRP and a known margin is: 76 COG- (1-Margin) x SRP 78 Practice #5: If an item sells at $2.50 and the retailer requires a 34% margins, 79 1-Marin 0.7 80 Exercise Principles of Retail Math Pricing Formula Reference Sheet SRP + Ready CP Type here to search E F G H Fill in Answer Fill in Answer Fill in Answer A B D 55 SRP - COG + (1 -Gross Margin %) 57 Practice #4: If an item costs $1.65 and the retailer requires a 34% margin 59 COG 1.65 70 1-Margin 0.7 71 SRP 2.357 72 Calculating A a Cost(COG) 73 Commonly used when retailers enforce strict Margins and the SRP is known. 74 The calculation is often used to figure allowances. 75 The formula for calculating COG when you have a SRP and a known margin is: 76 COG- (1-Margin ) x SRP 78 Practice #5: If an item sells at $2.50 and the retailer requires a 34% margins, 79 80 1-Margin 0.7 81 SRP 2.857 82 COG 1.650 83 84 85 86 87 88 89 90 91 92 93 94 95 Fill in Answer Fill in Answer Fill in Answer 96 Exercise Principles of Retail Math Pricing Formula Reference Sheet Ready CA e