Show the work please. Thank you.

Dolly's Place classmate who, after making millions with an Internet startup, financed her new endeavor. divided by total sales ($400,000). Because the sales in each month are different, you cannot add up the reduction percentage for each month and divide the sum by the number of months in the budget. After years of teaching retailing and marketing at the University of Southern Mississippi, Dolly Loyd decided to retire and return to her first love-running an apparel store on the Gulf Coast Because she used to run such a department for a major retail chain before teaching, she kept Today Dolly is beginning to make plans for the upcoming fall season. Dolly anticipates planned sales of $400,000 for the fall season based on a planned initial markup of 48 percent. Within the season, planned monthly sales are projected to be as follows: 15 percent in August and September, 10 percent in October, 20 percent in November, 30 percent in December, and 10 percent in January. To ensure a profitable season, trade association records were consulted. The records indicated the following: (1) The stock-to-sales ratios need to be 3.5 for August, 3.0 for September, 4.0 for October, 3.0 for November, 2.5 for December, and 5.5 for January; (2) reductions can be planned at 10 percent for the first four months, 20 percent for December, and 40 percent for January; and (3) with Valentine's Day approaching, an inventory of $220,000 will be necessary to begin the spring season. Complete a six-month merchandise budget for Dolly Dolly's Place Date: May 23 Six-Month Merchandise Budget Season: Fall Spring/Summer Fall/Winter Aug Sept Oct Nov Jan Seasonal Total 1. Planned BOM Stock 2. Planned Sales 3. Planned Retail Reductions 4. Planned EOM Stock 5. Planned Purchases @ Retail 6. Planned Purchases @ Cost 7. Planned Initial Markup 8. Planned Gross Margin 9. Planned BOM Stock/Sales Ratio 3.5 X 3.0 x 4.0 3.0 2.5 X 5.5 x - 10. Planned Sales Percentage 15% 15% 10% 20% 30% 10% 100% 11. Planned Retail Reduction 10% 10% 10% 10% 20% 40% 16% Planned total sales for the period $400,000 Planned total retail reduction percentage for the period 16% Planned initial markup percentage for the period 48% Planned BOM stock for February $220,000 Note: The reduction percentage for Dolly's is 16 percent, which is the amount of total reductions (864,000) Dec Cengage learning