Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The stationery and greeting cards department was given the following data to use in developing a merchandise plan for the spring-summer season: Planned sales for

The stationery and greeting cards department was given the following data to use in developing a merchandise plan for the spring-summer season:

Planned sales for the season $90,000

February 1 inventory 31,320

July 31 inventory 36,000

Initial markup percent 53.5%

Season markdown percent 5.43%

% of Seasons BOM Stock Sales % of Seasons

Month Sales Ratio Markdowns

February 12% 2.9 6.6%

March 14% 2.7 4.5%

April 20% 2.2 4.7%

May 21% 2.1 4.9%

June 19% 2.2 5.2%

July 14% 2.7 7.5%

Calculate:

Monthly planned sales

BOM stocks

Monthly and total season planned dollar markdowns

Monthly and total season planned purchases at retail

Monthly and total season planned purchases at cost

Upload your answer in the form of a spreadsheet-buying plan Google sheet.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Sm Auditing Integrated Appr Review Copy

Authors: ARENS LO, EBBECKE

7th Edition

0135914396, 978-0135914397

More Books

Students also viewed these Accounting questions

Question

explain the need for human resource strategies in organisations

Answered: 1 week ago

Question

describe the stages involved in human resource planning

Answered: 1 week ago