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

With your Cost in A1:

=A1/(1-27%)

--
Kind regards,

Niek Otten
Microsoft MVP - Excel

"dhnokc" wrote in message
...
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

Format the result cell as %

--
Kind regards,

Niek Otten
Microsoft MVP - Excel

"Niek Otten" wrote in message
...
With your Cost in A1:

=A1/(1-27%)

--
Kind regards,

Niek Otten
Microsoft MVP - Excel

"dhnokc" wrote in message
...
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

With your cost in B11, use:

=B1/(1-0.27) to get the sell price
--
Gary''s Student - gsnu200811

I think you deserve the A now, not the OP.
--
** John C **

"Niek Otten" wrote:

With your Cost in A1:

=A1/(1-27%)

--
Kind regards,

Niek Otten
Microsoft MVP - Excel

"dhnokc" wrote in message
...
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

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.

"dhnokc" wrote:

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