Calculate the February book BOM for the shoe department if: January sales are $688,000 January markdowns...

Question

Question

Calculate the February book BOM for the shoe department if:

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

Answer 1

Answer #1

Solution:

February Book BOM = January BOM + January receipts - January sales - January Markdowns - January return to vendor

= $2956000 + 1155000 - 688000 - (2956000*75%) - 136000

= $1,070,000

Answer 2

Similar Homework Help Questions

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
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
Find the February Book Inventory for the infants department given the following information: January BOM &nb...

Find the February Book Inventory for the infants department given the following information: January BOM $215,480 January Sales $26,675 January Markdowns $24,485 January Receipts $48,500

Calculate the remaining open to buy balance. February BOM $1,060 February Sales $550 February MDs $248...

Calculate the remaining open to buy balance. February BOM $1,060 February Sales $550 February MDs $248 February receipts on order $875 March BOM $1,340 Feb BOM Feb Sales Feb MD March BOM Mar OTB Feb Receipts OTB Balance $1,060 $550 $248 $1,340 $875
A women’s shoe department reported the following plans for November: Planned Sales.. $72,000 Planned BOM.. $89,000...

A women’s shoe department reported the following plans for November: Planned Sales.. $72,000 Planned BOM.. $89,000 Planned Reductions.. $4,000 Planned EOM.. $68,000 Stock on Order (@ Cost).. $13,500 IMU%.. 45% Calculate the buyer’s open to buy (OTB) at cost.
If a physical inventory was taken in January and the actual inventory is $209,400. Net sales...

If a physical inventory was taken in January and the actual inventory is $209,400. Net sales for the year is $153,800. What is the shortage or overage percentage? January BOM $215,480 January Sales $26,675 January Markdowns $24,485 January Receipts $48,500

7. Calculate the July closing book inventory for Boys' 4-7 at retail given the following Opening...

7. Calculate the July closing book inventory for Boys' 4-7 at retail given the following Opening book inventory Net sales $98,000 $16,000 $4,500 $27,500 $3,000 Markdowns Purchases Returns to vendor
The shoe department accounts for 2,700 square feet in a store and achieved sales per square...

The shoe department accounts for 2,700 square feet in a store and achieved sales per square foot of $800. Calculate the total sales for the shoe department.
Victors expects total sales of $699,000 for January and $348,000 for February. November sales totaled $388,000...

Victors expects total sales of $699,000 for January and $348,000 for February. November sales totaled $388,000 and December sales were $402,000. Now assume that Victors's sales are collected as follows: 60% in the month of the sale The following schedule of cash receipts for January and February was prepared based upon the collection history given: A (Click the icon to view the collection history.) 20% in the month after the sale 16% two months after the sale E (Click the...

Yandell expects total sales of $360,000 in January and $410,000 in February. Assume that Yandell's sales...

Yandell expects total sales of $360,000 in January and $410,000 in February. Assume that Yandell's sales are collected as follows: (Click the icon to view the collections.) November sales totaled S290,000, and December sales were $340,000. Prepare a schedule of cash receipts from customers for January and February. Round answers to the nearest dollar. (If a box is not used in the table leave the box empty: do not enter a zero.) Cash Receipts from Customers January February a More...