Dhruvarora.99
1. A store sold the following items for the day: 2 sweaters at…
1. A store sold the following items for the day: 2 sweaters at $39, 16 pairs of jeans at $59, 2 purses at $29 and 2 suits at $169. What are the gross sales for the day?
2. Using the problem above, besides the gross sales, the store had customer returns and allowances: 1 jean returned at $59, 2 skirts at $39. They also had to give a discount of 10% on a $169 suit because it was soiled. What were the customer returns and allowances for the day?
3. The store wants to calculate the customer returns and allowances as a percentage of sales. What is this percent?
4. Using the store above, what were the gross sales for the day?
5. The buyer wants to know her cost of inventory sold. She purchased the jeans at $19, sweaters at $9, jeans at $27 and suits at $67. What was her cost of inventory sold on this day?
6. What is the gross margin, using the number calculated above?
7. The direct expenses for the month included the following: $200 for advertising, $500 for salaries, and $200 in rent expenses for the month. What were the direct expenses for the month? What were the direct expenses for the day, assuming a 31 day month?
8. Indirect expenses during the month included: $75 for water, $89 for electricity, $60 for insurance. What were the indirect expenses for the month? For the day, assuming a 31 day month?
9. What would be the total operating costs in this problem for the day?
10. What is the profit for this store on this particular day?
11. A buyer wants to calculate her profit for the month. She knows the following information:
a. The store sold $34,600 worth of merchandise
b. Cost of merchandise sold (cost of inventory) was $15,890
c. The store had $600 in customer returns and allowances
d. Her operating expenses were $6,000
Calculate her profit (or loss) for the month
12. What is the gross margin if the store had net sales of $3,267 and cost of inventory sold of $1346?
13. A store had indirect expenses for the month of $500 for advertising, $30 for security monitoring, and $75 for insurance. What would the direct expenses be for a day (when there are 30 days in the month?)
14. A buyer wants to know her mark-up on a purchase. She purchased 25 sweaters at $9 and will sell them for $25. She also purchased 45 pairs of jeans at $21 and will sell them for $45. What is her total dollar markup in dollar and percent for this purchase?
15. A buyer realized several sweaters were not selling well. As a result, she marked them down from $58 to $38. There were 30 sweaters she marked down. What is the total dollar markdown? What is the total dollar markdown in percent?
16. A store had average markdowns last year of 21%. The projected sales are $230,000. Assuming she is calculating based on a seven month season, what is her planned markdowns?
17. A store had sales of $203,562 for the year. Their average stock was $57,640. What was their turnover for the year?
18. A buyer decides to use the weeks of supply method to develop her buying plan. Her planned sales are $460,000 and her desired turnover is 4. What should her weeks of supply be for the coming year?
19. A buyer has determined he desired level of stock per month is $12,800. she plans to have sales of $5,600 for that month. What would her basic stock requirements be for the month?
20. A buyer has planned purchases (or desired inventory) of $241,571. She has already ordered $46,798. She has received $87,623 worth of merchandise. What is her current open to buy?
