17. The stationery and greeting cards department was given the following data to use in...
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Accounting
17. The stationery and greeting cards department was given the following data to use in developing a merchandise plan for the spring season (3 months season): Planned sales for the season $120,000 April 30 inventory 80,000 Initial markup percent 53.5% % of Seasons BOM Stock Sales Markdowns Month Sales Ratio % February 42% 2.9 12% March 33% 3.4 15% April 25% 3.5 17% Calculate: (a) Monthly planned sales (b) BOM stocks (c) Monthly markdowns $ (d) Season total markdown $ and Season Markdown % (e) Monthly and total season planned purchases at retail (f) Monthly and total season planned purchases at cost (g) Planned stock turnover rate for the season
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