GP Formula Needed

[dhnokc]

Can someone tell me how to write a formula in Excel 2003 for the following.

I currently have an item that I sell for $29.71 and my cost is $19.17 which
give me a gross profit of 35.5%. I want to lower my Gross Profit to 27% and
need the formula to calculate my new sell price.

Thanks in advance.

Dru

 

[Niek Otten]

With your Cost in A1:

=A1/(1-27%)

 

[Niek Otten]

Format the result cell as %

 

[Gary''s Student]

With your cost in B11, use:

=B1/(1-0.27) to get the sell price

 

[John C]

I think you deserve the A now, not the OP.

 

[Brad]

Question
With your method an item that has a cost of $1 that is sold for $4 would
result a Gross profit percentage of 75%. Rather than taking "4/1 - 1" to
provide a 300% profit percentage. What am I missing?

If one took 24.35 (19.17*1.27) and divided it my 19.17 and then subtract 1
you would get 27% profit percentage.