Question: 3 you are the buyer for a large retail chain...
3. You are the buyer for a large retail chain. You need to calculate your gross margin. You have the following information available:
Purchases at retail $546,843
Purchases at cost 324,756
Employee discounts 33,456
Cash discounts 5,678
Senior citizen discount 899
What is the total gross margin?
4. Repeat exercise three; however, calculate the gross margin using percentages.