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Determine the Initial Markup % (IMU%) needed for a department with the following: Net Sales $280,000 Markdowns 20,000 Expenses 120,000 Employee Discounts 5,000 Alterations 2,700

Determine the Initial Markup % (IMU%) needed for a department with the following:

Net Sales $280,000

Markdowns 20,000

Expenses 120,000

Employee Discounts 5,000

Alterations 2,700

Cash Discounts 2,250

Shortages 1,600

Profit 4%

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