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5. The WA-ZOO, a bar near Washington State University (which takes its name from...

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Finance

5. The WA-ZOO, a bar near Washington State University (which takes its name from the overall IQ and behavior of the student patrons) is calculating its GM%. You have the following information available, stated in percent to sales:

Markdown % 6.7%

Cash Discounts 1.7%

Shortage 2.6%

Freight 1.4%

Clergy discount 0.0%

Employee Discount 3.5%

Cumulative Markup % 45.7%

Initial Markup Plan % 46.9%

Advertising Expense % 5.7%

What is the gross margin %?

6. What is the cumulative markdown % for the WA-ZOO?

Suppose that after you have finished your calculation the manager says, Oh, I forgot to give you the percentage for free birthday beers. It was .8% of sales. Would your GM calculation change and, if so, what would the new GM% be?

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