Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Show work What was the GM% and GMS of a shoe department with net sales of $655, 000 with an average MU of 53% and

Show work
image text in transcribed
What was the GM% and GMS of a shoe department with net sales of $655, 000 with an average MU of 53% and markdowns totaling 34%? What was the gross margin of a contemporary dress store with net sales of $945, 500, with an average MU of 60% and markdowns totaling 23%? Looking at section VIl from the practice problems, which is the most important department for this store? Which is the least important? Below are the GM% for those same departments. Knowing this, which is the most successful? Which is the least successful? Cosmetics - 45.6% Shoes - 35.2% Dresses - 33.8% Handbags - 23.7% Jewelry - 41.1% If you were the buyer for this store and were given the task of increasing total profits for the store, what would be your strategy based on the information you've been given

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

What is meant by Career Planning and development ?

Answered: 1 week ago

Question

What are Fringe Benefits ? List out some.

Answered: 1 week ago