The men's dress shirt department had been given the following information to use and developing a merchandise
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Question:
The men's dress shirt department had been given the following information to use and developing a merchandise plan for the fall-winter season:
Planned net sales: $566,000
Operating expenses: 35.8%
Planned Profit: 4.0%
Markdowns: 15.2%
Stock turnover: 2.9
Month Sales % of Season's Reductions
August 14% 16%
September 15% 12%
October 13% 12%
November 22% 19%
December 24% 20%
January 12% 21%
A. Determine initial markup % and gross margin %.
B. Determine planned sales.
C. Calculate the reductions for each month.
D. Calculate basic stock.
E. Determine BOM stock for each month.
F. Calculate monthly planned purchases at retail.
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