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Net selling price = selling price × (1 − discount percent ÷ 100). Gross profit per item = net selling price − cost price. Gross margin percentage = gross profit ÷ net selling price × 100. Markup percentage = gross profit ÷ cost price × 100. Target selling price = cost price ÷ (1 − target margin percent ÷ 100).- Apply the formulaNet selling price = selling price × (1 − discount percent ÷ 100). Gross profit per item = net selling price − cost price. Gross margin percentage = gross profit ÷ net selling price × 100. Markup percentage = gross profit ÷ cost price × 100. Target selling price = cost price ÷ (1 − target margin percent ÷ 100).35%profit/item $35 · markup 53.85% · 10 items = $350 · target price $108.33