Cost of an item given Selling Price of $19 and a 35% Markup on Cost

Given: Selling Price = $19,  Markup = 35%
Markup as a Decimal: 35% = 0.35
Formula:
Cost =  

Selling Price/ 1 + Markup as a Decimal

Cost =  

$19/ 1 + 0.35

Cost =  

$19/ 1.35

Cost = $14.07
Notes:
Markup Amount = Selling Price – Cost = $19 – $14.07 = $4.93
Profit = Markup Amount = $4.93
Profit Margin =  

Profit/ Selling Price

=  

$4.93/ $19

= 0.2595 = 25.95%