Answered step by step
Verified Expert Solution
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
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 July 31 EOM inventory 36,000 Initial markup percent 53.5% Season markdown percent 5.43% Month February March April May June July % of Sales 12% 14% 20% 21% 19% 14% Stock/Sales Ratio 2.9 2.7 2.2 2.1 2.2 2.7 % of Markdowns 14% 12% 16% 18% 19% 21% Calculate: (a) Monthly planned sales (b) Monthly and total season planned dollar markdowns (c) BOM stocks (d) EOM stocks (e) Monthly planned purchases at retail (f) Monthly planned purchases at cost le) Planned stock turnover rate for the season 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 July 31 EOM inventory 36,000 Initial markup percent 53.5% Season markdown percent 5.43% Month February March April May June July % of Sales 12% 14% 20% 21% 19% 14% Stock/Sales Ratio 2.9 2.7 2.2 2.1 2.2 2.7 % of Markdowns 14% 12% 16% 18% 19% 21% Calculate: (a) Monthly planned sales (b) Monthly and total season planned dollar markdowns (c) BOM stocks (d) EOM stocks (e) Monthly planned purchases at retail (f) Monthly planned purchases at cost le) Planned stock turnover rate for the season
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started