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