Definition
Additional markup is the adding of another markup to the original markup. It is the amount of a price increase, especially in stores operating under the retail inventory method of accounting.
Additional markup cancellation is a downward adjustment in price that is offset against a previously recorded additional markup.
Gross additional markup is the original amount of additional markup taken before subtraction of any additional markup cancellations to determine net additional markup.
References
- ^ American Marketing Association, AMA Dictionary.