Inventory was taken and the count was $2,316,000. Is there a shortage or overage and by how much in percentage if the ne...
Inventory was taken and the count was $2,316,000. Is there a shortage or overage and by how much in percentage if the net sales are $13,350,000?
January sales are $688,000
January markdowns are 75.0%
January receipts are $1,155,000
January returns to vendor are $136,000
January BOM is $2,956,000
Homework Answers
SOLUTION:
| Opening inventory at BOM | 2,956,000 |
| Receipts the month of February | 1,155,000 |
| net sales | -688,000 |
| markdowns (75% * 688,000) | -516,000 |
| returns to vendors | -136,000 |
| Retail book inventory at the EOM | 2,771,000 |
| Actual inventory | 2,316,000 |
| Shortage | 455,000 |
| Percentage (455000 / 13,350,000 * 100) | 3.41% |
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Inventory was taken and the count was $2,316,000. Is there a shortage or overage and by how much in percentage if the ne...
Inventory was taken and the count was $2,316,000. Is there a shortage or overage and by...
Inventory was taken and the count was $2,316,000. Is there a shortage or overage and by how much in dollars if the net sales are $13,350,000? January sales are $688,000 January markdowns are 75.0% January receipts are $1,155,000 January returns to vendor are $136,000 January BOM is $2,956,000
Calculate the February book BOM for the shoe department if: January sales are $688,000 January markdowns...
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