D G Student Assignment Spreadsheet: Use your knowledge of the Open-to-Buy Formula to complete the yellow highlighted sections of the spreadsheet June 6 Month OTB Plan Beginaing of the Month Laventory Sales Markdowns Open-to-buy at retail) Open-to-buy cat cost) End of Month leatory 1 July August September October November $135,000 $150,000 SI57.000 S157,000 $47.000 S48,000 350,000 550.000 $52.000 $45,000 S1.000 $750 $1,000 51.500 $1,000 $43,000 $50.750 555.750 561,500 537,000 if the initial markup is 40% 5150,000 $1$2,000 S157.000 $157,000 5153,000 The OpenToBuy Formula Planned Sales + Planned Markdown + Planned End of Month Inventory Planned Beginning of Month lnventory Open-to-Buy (at retail) Questions: Read each question below and write your answer in the cell provided What is the meaning of Open-to-Buy at retail Answer: Creating an Open-to-Buy plan can help you carefully manage merchandise across the business for the year. By using an open-to-buy plan, your able to find areas within your retalt organization where you can save money to invest in other areas of the business. Using the open to Buy Form, calculate the dollar moet 15% cost savings would allow you to laver In another area of the business if you currently have 5155.000 devoted to inventory Answer: What is planned end-of-month inventory? Answer: 22 What is planned end-of-month inventory? Answer 28 24 How could the information in an Open-to-Bay plan be vued to identify sales trends, foreenst sales, develop pricing strategies, and evaluate vender and product selections? Answer: 25 26 Describe how sales volume data can be used to evaluate retail merchandising and sales operations, including procedures, systems, and practices