Determine the maintained markup percent and gross margin percent for a department with the following figures:

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Net sales: $350,000

Net purchases: $135,600

Opening inventory: $120,000

Closing inventory: $82,000

Freight inward: $6,400

Cash discounts: $8,950

Alteration costs: $4,950

Determine the maintained markup percent and gross margin percent for a department with the following figures: \begin{tabular}{|c|c|} \hline Net sales & $350,000 \\ \hline Net purchases & $135,600 \\ \hline Opening inventory & $120,000 \\ \hline Closing inventory & $82,000 \\ \hline Freight inward & $6,400 \\ \hline Cash discounts & $8,950 \\ \hline Alteration costs & $4,950 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline 4 & A & B & C & D \\ \hline \multicolumn{5}{|l|}{5} \\ \hline \multicolumn{5}{|c|}{ Net Sales } \\ \hline 7 & \multicolumn{4}{|l|}{ Cost of merchandise sold } \\ \hline 8 & \multirow{2}{*}{\multicolumn{4}{|c|}{\begin{tabular}{l} Opening Inventory \\ Gross Purchases \end{tabular}}} \\ \hline 9 & & & & \\ \hline 10 & \multicolumn{4}{|l|}{ Less, Returns to Vendor } \\ \hline 11 & \multicolumn{4}{|l|}{ Net Purchases } \\ \hline 12 & \multicolumn{4}{|l|}{ Freight Inward } \\ \hline 13 & \multicolumn{4}{|l|}{ Total Merchandise Handled } \\ \hline 14 & \multicolumn{4}{|l|}{ Closing Inventory } \\ \hline 15 & \multicolumn{4}{|l|}{ Gross cost of merchandise sold } \\ \hline 16 & \multicolumn{4}{|l|}{ Cash Discounts Earned } \\ \hline 17 & \multicolumn{4}{|l|}{ Net Cost of Merchandise Sold } \\ \hline 18 & \multicolumn{4}{|l|}{ Net Alteration/Workroom Costs } \\ \hline 19 & \multicolumn{4}{|l|}{ Total cost of merchandise sold } \\ \hline 20 & \multicolumn{4}{|l|}{ Gross Margin } \\ \hline \multicolumn{5}{|l|}{21} \\ \hline \multicolumn{5}{|l|}{22} \\ \hline 23 & \multirow[t]{2}{*}{ Maintained Markup \$ } & \multicolumn{3}{|c|}{ (=Net sales -Gross Cost of Merchandise Sold) } \\ \hline \multicolumn{4}{|l|}{\begin{tabular}{l} 24 \\ 25 \end{tabular}} & \\ \hline & & & \\ \hline 26 & Maintained Markup \% & \multicolumn{3}{|c|}{ (= Maintained Markup \$/ Net Sales) } \\ \hline 27 & & & & \\ \hline 28 & & & & \\ \hline \end{tabular}