BT 160 Business Math Chapter 8 Portion Formula Assignment

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Part 1. Assuming markups are based on cost, explain how the portion formula could be used to calculate cost, selling price, dollar markup, and percent markup on cost. Pick a company and explain why it would mark goods up on cost rather than on selling price. S=C+M

Part 2. Assuming markups are based on selling price, explain how the portion formula could be used to calculate cost, selling price, dollar markup, and percent markup on selling price. Pick a company and explain why it would mark goods up on selling price rather than on cost.

Part 3. Find two articles about the company you picked which demonstrate the cost methods.