What are the open-to-buys at retail and at cost

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Problem 1: Umberto's merchandising plan for October has a planned beginning inventory of $294,000.00 and a closing inventory of $402,000.00. During this period, sales are estimated to be around $371,400.00, markdowns $23,100.00, and shortages $5,900.00. They have received $258,600.00 in merchandise and $74,700.00 worth of stock is still on order. What are their open-to-buys at retail and at cost if the initial markup% is 55%?

Reference no: EM132736099

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