Cost of an item given Selling Price of $142 and a 35% Markup on Cost

Given: Selling Price = $142,  Markup = 35%
Markup as a Decimal: 35% = 0.35
Formula:
Cost =  

Selling Price/ 1 + Markup as a Decimal

Cost =  

$142/ 1 + 0.35

Cost =  

$142/ 1.35

Cost = $105.19
Notes:
Markup Amount = Selling Price – Cost = $142 – $105.19 = $36.81
Profit = Markup Amount = $36.81
Profit Margin =  

Profit/ Selling Price

=  

$36.81/ $142

= 0.2592 = 25.92%