Markups; cost-plus pricing The following is Talley Companys income statement for the past year. Sales revenue $300,000 Cost of goods sold 120,000 Gross margin 180,000 Operating expenses 130,000 Operating income $50,000

Required What is the markup percentage on the cost of goods sold?

What is the markup percentage on the total cost?

What is the gross margin percentage?

If the company wants to sell a new product that costs $45 wholesale while keeping the same markup structure, what will be the price of the new product?