In: Accounting
The stationery and greeting cards department was given the following data to use in developing a merchandise plan for the spring-summer season:
Planned sales for the season $90,000
February 1 inventory 31,320
July 31 inventory 36,000
Season markdown percent 5.43%
% of Season’s BOM Stock Sales % of Season’s
Month Sales Ratio Markdowns
February 12% 2.9 6.6%
March 14% 2.7 4.5%
April 20% 2.2 4.7%
May 21% 2.1 4.9%
June 19% 2.2 5.2%
July 14% 2.7 7.5%
Calculate:
Monthly planned sales
BOM stocks
Monthly and total season planned dollar markdowns
Monthly and total season planned purchases at retail