6. ALL INCLUSIVE PROBLEM..........10 POINTS You are the new department manager at TOMMY"S TOY SHOP. When you took over the department you had a retail inventory of $42,000 that cost $28,000. During your first month you purchased an additional $19,000 that you priced into retail at $30,000. Net sales for the first month were $38,000. CALCULATE: A. TOTAL MERCHANDISE HANDLED AT RETAIL TOTAL MERCHANDISE HANDLED AT COST C. CUMULATIVE MARKUP PERCENTAGE D. ENDING INVENTORY AT RETAIL ENDING INVENTORY AT COST F. COST OF GOODS SOLD GROSS G. GROSS MARGIN DOLLARS H. STOCK TURNOVER FOR THE MONTH Formulas that are helpful: Markup% = Retail - Cost/Retail Retail = Cost/l- Mu% Cost = Retail x (1- Mu%) Sales - Cost of Goods Sold = Gross Margin Cost of Goods Sold = Beginning Inventory + Purchases - Ending Inventory Turnover = Sales/Average Inventory at Retail