CHILDREN'S DEPARTMENT Under this new plan, Elise has been asked to adhere to the following initial and maintained markup percentages described in the following table: Elise just received her first shipment from FUNWEAR, her largest girls' vendor of unique jeans for kids. Its hand-painted designs and jeweled enhancements were adorable and were a real traffic driver in the department. This vendor pre-marks all items for Mel's, allowing Elise to get them from receipt to selling floor quickly. Elise wanted to ensure that the tags were correct. Here is how the invoice read: 1. Given the soft-goods targets, are these marked correctly? If not, what should the initial retail price be to obtain her 60 percent minimum initial markup percentage? Explain. 2. By noon another shipment arrives. This time it is from SNEAK HERS, delivering her preholiday sneakers. Elise notices that the high tops do not have tags and need to be priced for the floor. She has her associate calculate the retail price. The invoice indicates the cost is \$8.75. What should the initial retail price be, given her markup target? Explain. 3. Elise has been analyzing her sell through and saw that the "hot" T-shirts from back to school have not been moving, and she has sweater shipments due in the next two weeks. She decides to mark the T's down to make room for the anticipated shipment. The cost of the T's was $3.00, and they were on the floor at a 60 percent markup. If Elise takes a 25% percent markdown, what should the new selling price? Explain. 4. After six weeks passed, Elise analyzes her sales of the FUNWEAR prewashed jeans. Of her original 200 units this is what she found: - 50 units sold at the original retail - 40 units sold at a 25% markdown - 110 units sold at a 50% markdown What was her maintained markup percentage? Did it meet her goals? Explain/show how you determined answer and what happened to make create this outcome