1. Mark Up
When you sourced an item from a supplier and are required to upload it to the Eezee Listing. You need to mark up the Cost Price from the Supplier. The formula to mark up Cost Price should be the below:
– To Mark Up 5% : CP / 0.95
– To Mark Up 6% : CP / 0.94
– To Mark Up 7% : CP / 0.93
– To Mark Up 8% : CP / 0.92
– To Mark Up 9% : CP / 0.91
– To Mark Up 10% : CP / 0.90
– To Mark Up 11% : CP / 0.89
– To Mark Up 12% : CP / 0.88
– To Mark Up 13% : CP / 0.87
– To Mark Up 14% : CP / 0.86
– To Mark Up 15% : CP / 0.85
– To Mark Up 20% : CP / 0.80
Example :
The cost of a Chair is $100 and we need to mark up 12% and quote to customer.
$100 / 0.88 = $113.6364
Round up = $113.70
We should quote $113.70 to customer.
Example:
When we purchase from our entities (Eezee SG/ID/MY), we shall mark up the price to 5%. Below are the examples:
PO To Eezee SG
Example :
SGD 690 (Price from supplier) / 0.95 (mark up 5%) = SGD 726.32
SGD 726.32 + 9% GST = SGD 791.69 (Price to Eezee SG)
PO To Eezee ID
Example :
IDR 1,000,000 (Price from supplier) / 0.95 (mark up 5%) = IDR 1,052,631.58
IDR 1,052,631.58 + 11% GST = IDR 1,168,421.05 (Price to Eezee SG)
Calculation of cost
SGD 690
Currency : SGD 1 = RM 3.5182
Currency Mark up 5% : RM 3.5182/0.95 = RM 3.7034
SGD 690 x RM 3.7034 = RM 2,555.35 + 9% GST = RM 2,785.33 (Your cost)
RM 2,785.33/0.9 (mark up 10%) = RM 3,094.81 (Price to customer)
2. Gross Profit
To calculate GP (Gross Profit) and/or check Mark Up.
Selling Price – Cost Price / Selling Price x 100 = XX%
Example :
The cost of a Chair is $100 and we need to mark up 12% and quote to customer.
$100 / 0.88 = $113.6364
Round up = $113.70
$113.70 – $100 = $13.70
$13.70 / $113.70 x 100 = 12.05%