accounting






 

Question by  nelsonmichaelr (203)

What is mark--up on cost method?

 
+7

Answer by  AnnaTeague (806)

Markup is the difference between what an item costs and its retail sales price. Businesses rely on selling its inventory. Retail prices must pay overhead expenses and make a profit. The grocery industry, markup is less than one percent. In a department store, it may be 100% or even more.

 
+4

Answer by  joba83 (4)

An accounting where you adjust the cost of your inventory on the books to the fair market value of the goods.

 
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