A buyer had an inventory of $93,000 on August 1 and a planned EOM stock of $120,000. Planned sales for the department were $65,000, and planned markdowns for the month were $5,690. As of August 1, the buyer had merchandise on order of $32,000 at retail to be delivered during the month. Planned initial markup was 48.5%. Calculate the buyers OTB at cost as of August 1.

Select one: a. $65,690.00 b. $11,690.00 c. $19,925 d. $33,830.35 e. $38,690.00