If the item is worth $x$, then $76-x=-4\implies x=80$. A $20\%$ profit is then $80\cdot\frac{2}{10}=16$. So the selling price is $80+16=96$. So it seems you are correct.
If the item is worth $x$, then $76-x=-4\implies x=80$. A $20\%$ profit is then $80\cdot\frac{2}{10}=16$. So the selling price is $80+16=96$. So it seems you are correct.