Merchandising Mathematics for Retailing 5th Edition by Cynthia Easterling ,Ellen Flottman,Marian Jernigan ,Beth Wuest

Exercise 1

A buyer had an inventory of $45,000 on June 1 and a planned EOM stock of $51,000. Planned sales for the department were $39,000 and planned markdowns for the month were $3,200. As of June 1, the buyer had merchandise on order of $10,000 at retail to be delivered during the month. Planned initial markup was 48%. Calculate the buyer's OTB at retail and at cost as of June 1.