Melissa reviewed her six-month plan for Orchard Creek's Children's Accessory Department, including the actual performance for August and September. She also observed the department's current performance from October 1 through October 15. In her midmonth analysis, Melissa observed the following: Planned sales for October were $7,891 Actual sales from October 1 through October 15 were $3,529 The value merchandise on-order scheduled to arrive before the end of October is $2,749 Planned markdown for October was 1,560 Actual markdown taken from October 1 through October 15 was $715 Stock on hand as of October 15 is valued at $22,160 Planed EOM for October were $18,272 Markup % is 61.5 % What is the open-to-buy remaining for the month of October? Please calculate 1) OTB at Retail and 2) OTB at Cost

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Melissa reviewed her six-month plan for Orchard Creek's Children's Accessory
Department, including the actual performance for August and September. She also
observed the department's current performance from October 1 through October
15. In her midmonth analysis, Melissa observed the following:
Planned sales for October were $7,891
Actual sales from October 1 through October 15 were $3,529
The value merchandise on-order scheduled to arrive before the end of October is
$2,749
Planned markdown for October was 1,560
Actual markdown taken from October 1 through October 15 was $715
Stock on hand as of October 15 is valued at $22,160
Planed EOM for October were $18,272
Markup % is 61.5 %
What is the open-to-buy remaining for the month of October? Please calculate 1)
OTB at Retail and 2) OTB at Cost
Edit View Insert
Format
Toole
T-LI.
Transcribed Image Text:Melissa reviewed her six-month plan for Orchard Creek's Children's Accessory Department, including the actual performance for August and September. She also observed the department's current performance from October 1 through October 15. In her midmonth analysis, Melissa observed the following: Planned sales for October were $7,891 Actual sales from October 1 through October 15 were $3,529 The value merchandise on-order scheduled to arrive before the end of October is $2,749 Planned markdown for October was 1,560 Actual markdown taken from October 1 through October 15 was $715 Stock on hand as of October 15 is valued at $22,160 Planed EOM for October were $18,272 Markup % is 61.5 % What is the open-to-buy remaining for the month of October? Please calculate 1) OTB at Retail and 2) OTB at Cost Edit View Insert Format Toole T-LI.
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