Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You will have $1,430,000 (Retail) to spend to stock your store. (Use an excel worksheet to show your work) Using the figures provided you will

You will have $1,430,000 (Retail) to spend to stock your store. (Use an excel worksheet to show your work)

Using the figures provided you will calculate the following for the XYZ store.

Open to buy for each month

Average monthly sales

Average monthly on order

Markdown % for each month


Planned sales

On Order

Employee

Mark Down $

Shortages

EOM Stock

DOM Stock









Feb.

$300,000

$125,000

2%

$8,000

2%

$200,000

$160,000









Mar.

$200,000

$30,000

3%

$12,000

4%

$80,000

$40,000









Apr.

$300,000

$150,000

4%

$4,000

5%

$110,000

$90,000









May

$200,000

$100,000

0%

$3,000

7%

$90,000

$60,000









June

$400,000

$150,000

5%

$18,000

2%

$210,000

$150,000









July

$200,000

$30,000

7%

$25,000

3%

$70,000

$30,000

Step by Step Solution

3.46 Rating (153 Votes )

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Document Format ( 2 attachments)

PDF file Icon
609099f259fb4_21809.pdf

180 KBs PDF File

Word file Icon
609099f259fb4_21809.docx

120 KBs Word File

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting an introduction to concepts, methods and uses

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

13th Edition

978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003

More Books

Students also viewed these Accounting questions