Selling Price after a 66.667% Markup is applied to an item that Cost $600

Given: Cost = $600,  Markup = 66.667%
Markup as a Decimal: 66.667% = 0.66667
Formula:
Selling Price = Cost * (1 + Markup as a Decimal)
Selling Price = $600 * (1 + 0.66667)
Selling Price = $600 * 1.66667
Selling Price = $1,000
Notes:
Markup Amount = Selling Price – Cost = $1,000 – $600 = $400
Profit = Markup Amount = $400
Profit Margin =   =   = 0.4 = 40%