23. Complete a merchandise plan for Linens and Domestics based on the following data (using basic stock method): Planned net sales Stock turnover Operating expenses Planned profit Season's reductions $97,500 1.9 39.5% 6.0% 15.0% The opening stock for August will be $52,800 Percentage of season's sales for each month, and percentage of seasons reductions for each month are planned as: % of Season's sales % of season's reductions February 12% 13% March 13% 15% April 16% 12% May 19% 20% June 20% 19% July 20% 21% a. Determine gross margin percent and the initial markup percent. b. Calculate GMROI for the season Calculate the monthly planned purchases at retail. d. Calculate the monthly planned purchases at cost 23. Complete a merchandise plan for Linens and Domestics based on the following data (using basic stock method): Planned net sales Stock turnover Operating expenses Planned profit Season's reductions $97,500 1.9 39.5% 6.0% 15.0% The opening stock for August will be $52,800 Percentage of season's sales for each month, and percentage of seasons reductions for each month are planned as: % of Season's sales % of season's reductions February 12% 13% March 13% 15% April 16% 12% May 19% 20% June 20% 19% July 20% 21% a. Determine gross margin percent and the initial markup percent. b. Calculate GMROI for the season Calculate the monthly planned purchases at retail. d. Calculate the monthly planned purchases at cost