1. Complete a merchandise plan for Linens and Domestics based on the following data: Planned...
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Accounting
1. Complete a merchandise plan for Linens and Domestics based on the following data: Planned net sales $98,000 Markup 41.90% Stock turnover 1.8 Operating expenses 39.20% Planned profit 4.00% Cash discounts 1.30% Markdowns 9.10% Shortages 0.70% Maintained markup 41.90%
| Sales | Reductions | ||
| February | 12% | 13% | |
| March | 13% | 15% | |
| April | 15% | 12% | |
| May | 19% | 21% | |
| June | 21% | 19% | |
| July | 20% | 20% |
| Determine sales for each month. |
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