A store sold the following items for the day:

1.2 sweaters at $39, 16 pairs of jeans at $59, 2 purses at $29 and 2 suits at $169. What are the gross sales for the day? 

2. The buyer wants to know her cost of inventory sold. She purchased the 16 jeans at $19; 2 sweaters at $9; 2- purses at $27; and 2 suits at $67. What was her cost of inventory sold on this day? 

3. What is the gross margin, using the calculations from above (questions 1 & 2) ?

4. The direct expenses for the month included the following: $200 for advertising, $500 for salaries, and $200 in rent expenses for the month. What were the direct expenses for the month? What were the direct expenses for the day, assuming a 31 day month? 

5. Indirect expenses during the month included: $75 for water, $89 for electricity, $60 for insurance. What were the indirect expenses for the month? For the day, assuming a 31 day month? 

6. What is the gross margin if the store had net sales of $3,267 and cost of inventory sold of $1346? 

7. A store had direct expenses for the month of $500 for advertising, $30 for security monitoring, and $75 for insurance. What would the direct expenses be for a day (when there are 30 days in the month?)

8. A buyer wants to know her mark-up on a purchase. She purchased 25 sweaters at $9 and will sell them for $25. She also purchased 45 pairs of jeans at $21 and will sell them for $45. What is her total dollar markup in dollar and percent for this purchase?

9. A buyer realized several sweaters were not selling well. As a result, she marked them down from $58 to $38. There were 30 sweaters she marked down. What is the total dollar markdown? What is the total dollar markdown in percent? 

10. A store had average markdowns last year of 21%. The projected sales are $230,000. Assuming she is calculating based on a seven month season, what is her planned markdowns? 

11. A store had sales of $203,562 for the year. Their average stock was $57,640. What was their turnover for the year? 

12. A buyer decides to use the weeks of supply method to develop her buying plan. Her planned sales are $460,000 and her desired turnover is 4. What should her weeks of supply be for the coming year? 

13. A buyer has determined he desired level of stock per month is $12,800. she plans to have sales of $5,600 for that month. What would her basic stock requirements be for the month? 

14. A buyer has planned purchases (or desired inventory) of $241,571. She has already ordered $46,798. She has received $87,623 worth of merchandise. 

What is her current open to buy?

Answer rating: 100% (QA)

1 Gross sales for the day 12 x 39 16 x 59 2 x 29 2 x 169 120 944 58 338 1460 2 Cost of inventory sol... View the full answer