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excel need to be finished, all question around shortage and GMROI and closing inventory 1. Net sales for the hosiery department in May were $30,620.

excel need to be finished, all question around shortage and GMROI and closing inventory

image text in transcribed 1. Net sales for the hosiery department in May were $30,620. Book inventory at the end of the month showed that $97,831 should be on hand. Physical inventory showed $97,560. Determine shortage or overage percent (specify which). 2. Using the following figures, determine closing book inventory (not all information may be needed) Opening inventory $ 89,760.00 Gross purchases $ 43,620.00 RTV $ 860.00 Cash Discounts $ 320.00 Markdowns $ 5,246.00 Markdown Canc $ 318.00 Emp discounts $ 784.00 Gross sales $ 49,318.00 Customer Returns $ 2,945.00 Net Mark ups $ 760.00 3. Calculate shortage or overage percent, given the following information: Opening inventory RTV Gross purchases Customer Returns Gross sales Transfers In Transfers out Markdown Markdown Canc Employee Disc Closing Physical $ 64,280.00 $ 960.00 $ 123,645.00 $ 9,780.00 $ 105,420.00 $ 12,219.00 $ 9,769.00 $ 15,290.00 $ 940.00 $ 670.00 $ 77,700.00 Shortage % 4. Calculate GMROI from the following data: net sales $550,110; average inventory at cost, $66,180; and gross margin, 38%. 5. Calculate GMROI for a year using the following information: Gross Margin: $ 81,840.00 Inventory at cost: BOM stock Feb $ 19,200.00 BOM stock March $ 20,100.00 BOM stock April $ 22,500.00 BOM stock May $ 24,800.00 BOM stock June $ 22,400.00 BOM stock July $ 19,000.00 BOM stock Aug $ 21,400.00 BOM stock Sept $ 22,500.00 BOM stock Oct $ 25,200.00 BOM stock Nov $ 26,100.00 BOM stock Dec $ 23,200.00 BOM stock Jan $ 20,000.00 EOM stock Jan $ 19,600.00 GMROI annual

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