Determine the initial markup percentage from the following data: % Gross margin 46.8 % Cash discounts to be earned 15.0 % Alteration costs 0.5 % MMU 32.3 % Markdowns 35.0 % Employee discounts 1.5 % Reductions 36.5 % Net Sales 100.0 %=IMU % 50.40 % Cumulative Markup Practice Problems