What I understood is that you want to call a function to perform some calculations.
Before your last line:
Console.Write("Your Retail Price Is: " + newprice);
What you need to do is call your function for calculating price and it’ll return the price after calculating it. So simply do:
double newprice = sum(inputpercent,inputcost)
And change your sum function to:
public double sum(double MarkUpPercentage, double overallprice)
{
MarkUpPercentage = inputpercent + 100;
overallprice = MarkUpPercentage / 100;
double newprice = inputcost * overallprice;
return newprice;
}