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A buyer had an inventory of $90,000 on June 1 and a planned EOM stock of $101,000. Planned sales for the department were $78,000, and
A buyer had an inventory of $90,000 on June 1 and a planned EOM stock of $101,000. Planned sales for the department were $78,000, and planned markdowns for the month were $6,400. As of June 1, the buyer had merchandise on order of $25,000 at retail to be delivered during the month. Initial markup was planned to be 48%. Calculate the buyers OTB at cost for the month.
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Principles Of Auditing
Authors: O. Ray Whittington, Kurt Pany, Walter B. Meigs
12th Edition
