Retailing 8th Edition by Patrick Dunne,Robert Lusch, James Carver

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Why is a merchandise budget so important in retail planning, and how is a merchandise budget prepared
A retailer believes that since a major competitor has just left the local market, the number of transactions for this year's upcoming season will increase by 4 percent; but because of a slowing rate of inflation, the value of the average sale will increase by only 1 percent. If sales last year were $1,500,000, what will they be this year