Question: A retail store uses the open-to-buy method. The current inventory on hand is $260,000 at retail value. The owner placed an order last week but

A retail store uses the open-to-buy method. The current inventory on hand is $260,000 at retail value. The owner placed an order last week but it has not been delivered yet. The value of that order is $42,000 at wholesale cost. The store uses a 100% markup of wholesale cost to set its retail prices. The maximum inventory the owner wants to have in her store is $400,000 at retail price 2. (5 marks) What is the current retail value of the inventory on hand plus on order? b.(5 marks) How much is the maximum the value of the new order should be at wholesale cost

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