Markup is cost-based
A 50% markup on a $40 cost creates a $60 price, but the gross margin is 33.33%.
Free retail calculator
Free Retail Markup Calculator
Convert cost and markup percentage into a selling price and understand the resulting gross margin.
Retail markup calculator guide
Review by category
Different departments may need different markups based on turns, competition, and shrink.
Keep costs current
Pricing decisions are only as good as your latest vendor cost data.