Question: Hello hope all is well, while I was working on this assignment I had trouble understanding the concept. 10. The planned initial markup in a

Hello hope all is well, while I was working on this assignment I had trouble understanding the concept.

assignment I had trouble understanding the concept. 10. The planned initial markup

10. The planned initial markup in a department, as indicated on the merchandise plan, is 40%. The planned sales for the month of August are $35,000 with markdowns of 8%. The merchandise plan also indicates that the planned BOM stock for the month is $31,000 and the planned EOM stock is $34,000. As of August 1 the buyer has merchandise on order of $6,000 at retail to be delivered during the month. Calculate the buyer's 0TB at retail as of August 1. Calculate the OITB in #6 at cost. The men's accessories department has the following classications and an open-to- buy (OTB) of $68,000 Neck ties: 25% Belts: 35% Bags: 40% What is the 0TB for neck ties? The buyer for the same men's department as in #8 has ve neck tie vendors: Boss: 40% Gucci: 20% Psycho Bunny: 2% Burberry: 26% The Tie Bar: 12% What is the OTB for neck ties from Gucci? Given the gures in questions 8 and 9, calculate the OTB for Psycho Bunny neck ties

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