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Use the following to answer questions:
-May Fourth Movement
Markup Percent
The rate at which the cost price of goods is marked up to determine their selling price.
Selling Price
The amount for which something is sold, determined by factors such as cost, demand, and competition.
Cost
The amount of money required to produce, purchase, or maintain a product or service.
Markup Percent
The surcharge applied to the acquisition cost of products for covering overhead and making a profit.
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