How to determine the margin: Retail price minus cost = Margin
Example: $7.50 less $6.46 = $1.04
How to determine the margin percent: (Margin divided by retail price) multiplied by 100 = Margin percent
- $1.04 divided by $7.50 = 0.1387
- 0.1387 multiplied by 100 = 13.87%
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