Scribd
Upload
367 views2 pages

Buying I Recap

The document contains a 10-question assignment on retail math concepts such as cost of goods sold, profit and loss statements, markups, markdowns, and inventory turnover. Students are asked to complete the problems, which involve calculations related to orders, pricing, sales data, and financial statements. They must submit the assignment, worth 20 points, by January 23rd.

Uploaded by

Andrea Vargas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
367 views2 pages

Buying I Recap

The document contains a 10-question assignment on retail math concepts such as cost of goods sold, profit and loss statements, markups, markdowns, and inventory turnover. Students are asked to complete the problems, which involve calculations related to orders, pricing, sales data, and financial statements. They must submit the assignment, worth 20 points, by January 23rd.

Uploaded by

Andrea Vargas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Andrea Vargas

Complete the following problems for class on Thursday, January 23 rd – the assignment will be
worth 20 points

1. The kitchen textile buyer placed an order for 12,000 holiday motif towels at the billed
cost of $1.70 each. The shipping charges on the order amounted to $300. the buyer
negotiated a cost discount of 12%. What is the cost of good sold on the order?

12,000 x $1.70 = $20,400 $20,400-(12%) + 300 = $18,252

2. Set up a skeletal Profit and Loss Statement in both dollars and percent given the
following information:
Gross Sales $583,260
Customer R&A 8.65%
COGS 48.35%
Expenses $251,870

net sales -COGS= gross margin -operating expenses =profit/loss

3. Calculate the retail price on a sofa table that costs the store $420 and has a 52%
markup.

$420 / (100% - 52%) = $875

4. What is the markup percent on a jacket that costs $66 and retails for $120?

($120 – 66) / $120= 45%

5. Find the markup percent on the following order:

14 X 20 = 280 14 X 45 = 630
25 X 18 = 450 25 X 40 = 1,000
10 X 16 = 160 10 X 30 = 300
280+450+160=890
630+1000+300=1,930

(1930 - 890) / 1930 = 53.89%


Andrea Vargas

6. If markdowns totaled $6,884 and net sales were $87,000, what was the markdown
percent for the month?

6,884 / 87,000 = .0791 = 8%

7. What is the sales curve percent by month for one wedding dress style using the
following unit sales data:
February 120
March 175
April 130
May 150
June 165
July 115

8. Find the stock turnover for January and February given:


BOM January = $291,924 January: net sales = $169,012
BOM February = $181,926 February: net sales = $139,994
EOM February = $150,822

9. The jewelry department had planned sales of $670,000 for a six-month period.
Markdowns were planned at 17.7%. Determine the dollar markdowns.

670,000 x .177 = $118,590

10. Determine the $ net markdown and the net markdown % from the following:
Gross Sales $600,000 
Customer Returns $25,100
Total Markdowns $108,500
Markdown Cancellation $59,300

25,100+108,500= $133,600
133,600 / 600,000= 22%

You might also like