Hello hope all is well, while i was working on this assignment i did not understand the concept.

1. The BOM inventory at retail for budget footwear for Ga110p's Department Store was $30,000 on August 13', with an inventory planned at $40,000 on August 31. Planned sales were $14,000, with markdowns of $1,000 for the month. Planned initial markup percent is 45.5%. The buyer has already ordered merchandise for August of $12,000 at retail. What was the OTB in retail dollars? What was the OTB in cost dollars? 2. A buyer had an inventory of $45,000 on June 1 and a planned EOM stock of $51,000. Planned sales for the department were $39,000 and planned markdowns for the month were $3,200. As of June 1, the buyer had merchandise on order of $10,000 at retail to be delivered during the month. Planned initial markup was 48%. Calculate the buyer's OTB at retail and at cost as of June 1