Question: Complete a merchandise plan for Linens and Domestics based on the following data: Planned net sales $98,000 Stock turnover 1.8 Operating expenses 39.2% Planned profit

Complete a merchandise plan for Linens and Domestics based on the following data:

Planned net sales $98,000

Stock turnover 1.8

Operating expenses 39.2%

Planned profit 4.0%

Markdowns 9.8%

% of Seasons

Sales Reductions

February 12% 13%

March 13% 15%

April 15% 12%

May 19% 21%

June 21% 19%

July 20% 20%

  1. Determine the initial markup and gross margin percent.
  2. Determine sales for each month.
  3. Calculate the reductions for each month.
  4. Determine the BOM stocks for each month.
  5. Determine the EOM stocks for each month.
  6. Calculate the monthly planned purchases at retail.
  7. Calculate the monthly planned purchases at cost.

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