OTB Balance

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Submit responses to questions below and receive 5 Extra Credit points (1 pt per question).

Question 1:

A buyer’s sales for October are estimated at $15,000.  Her stock on October 1 is $38,000, and she has $11,000 stock at retail on order for the month.  Markdowns are planned at 8% for the month, and the planned EOM stock is $40,000.  Determine the OTB on October 1.

Question 2:

March figures for the junior sportswear department are as follows:

Planned sales                                 $86,000

Planned markdowns                        2,500

Planned BOM stock                       180,000

Planned EOM stock                      190,000

Outstanding orders                         64,000

Planned markup                                  51%

Calculate OTB at retail and at cost.

Question 3:

Determine the buyer’s OTB as of November 14 using the following information:

Planned sales for November                       $40,000

Actual sales, November 1-14                         18,500

Stock on hand, November 14                      65,000

Planned stock, December 1                         50,000

Planned markdowns for the month               3,000

Actual markdowns, November 1-14               1,000

Stock on order, November 14                       10,000

Question 4

The Men’s Buyer has June sales of $890,000 and June markdowns of $338,000. June BOM is $2,100,000 and July BOM is $1,750,000. The on order for June is $940,000. Calculate the remaining open-to-buy for June.

Question 5

Find the OTB balance for December when on December 10 the stock-on-hand is $265,000 and the planned sales for the balance of the month are $101,000. Markdowns are planned at $31,000, and planned inventory for December 31 is $150,000, with outstanding orders totaling $21,500.