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The May portion of a six-month plan for a swim department is as follows: ...

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Accounting

The May portion of a six-month plan for a swim department is as follows:
Planned May sales $37,500
Planned May markdowns 25%
Planned May BOM stock $166,000
Planned June BOM stock $159,000
Planned markup 59%
a) What are the planned May purchases at retail?
BOM Inv Sales MD % MD $ EOM Inv OTB
$166,000 $37,500 25.0% $9,375 $159,000 $1,875 $205,875
$39,875
b) On May 1, the buyer is notified that $38,000 worth of goods (retail value) is on order. What is the open-to-buy balance at cost for May?
BOM Inv Sales MD % MD $ EOM Inv OTB at Retail Markup % OTB at Cost On Order at Retail On Order at Cost OTB Balance at Cost
$166,000 $37,500 25.0% $9,375 $159,000 $1,875 59.0% $768.75 $38,000

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