Retail Management 12th Edition by Barry Berman ,Joel Evans

Exercise 12

The store in Questions 10 and 11 knows its cost complement for all merchandise purchased last year was 0.61; it projects this to remain constant. It expects to begin and end December with inventory valued at $140,000 at retail and estimates December reductions to be $18,000. The firm already has purchase commitments for December worth $50,000 (at retail). What is the open-to-buy at cost for December