Excel can calculate various formulas. If you are looking to calculate markup in Excel, it takes only a few simple keystrokes. You will not need to navigate the wide range of menus and options available in this program.
- Skill level:
Things you need
Open a blank Excel spreadsheet and label your menus. In cell A1, type "Cost of Item." Select cell B1 and type "Selling Price." In cell C1, type "Markup Percentage." These are your menu titles.
Select cell A2, the block under the title "Cost of Item," and list the cost of the item. Consider an example of £35., which is the amount of money you paid for an item before putting the item up for sale. Put £35 in block A2 on your Excel worksheet. Click "Enter," which takes you to cell B2.
Enter the selling cost into B2. This example will use £64. Put £64 in cell B2. Click "Enter" to go to C2.
Calculate the percentage of markup. In this example, you paid £35 for an item that sold for £64. In C2, fill out the formula to calculate the percentage of markup. Click the "equal" button on your keyboard, followed by "A2/B2," with no spaces anywhere in the calculation. It will look like this: "=A2/B2."
Reveal the markup. After you have filled in the formula, click "Enter." Select cell C2 and click the per cent icon located in number group on the toolbar. This will format that column as percentage. Your answer for markup should be 55 per cent, which will appear in cell C2. Highlight the revealed number if you wish, or customise the worksheet using the formatting tools available.
Tips and warnings
- You will not need to repeat the same keystrokes each time you want to calculate markup in your sales. Just copy the C2 format down the column so your markup will automatically appear.
- Use the formatting menus to make the column headers stand out or be easier to read.
- Consider making charts in Excel to visualise the markup results.
- If you make a mistake, click the "Undo" button on the toolbar, or navigate to the "Edit" menu and click "Undo."
- Save all your work and create backups regularly so you will not lose data. Set your preferences in Excel to "quick backups," which saves your work automatically.
- In case of a hard drive failure, save your work on removable storage.
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