31 Questions
| Total Attempts: 640

This assessment will be to test your basic retail math and analytical skills.

Questions and Answers

- 1.Use the following formulas to answer questions 1-3 Retail $ - Cost $ = Mark Up $ (Retail $ - Cost $) / Retail $ = Mark Up % Stephanie bought a sweater for $50 retail. Kohl's originally paid the vendor $30 for the same sweater. What is the Mark Up $ for this transaction?
- 2.Calculate the Mark Up % on the sweater transaction if Stephanie paid $55 for the same sweater. Round to the nearest percent.
- 3.If Kohl's wanted to sell the sweater for $50 and have a Mark Up % of 48% on the transaction, at what cost would they need to purchase the sweater?
- 4.Bob's Lemonade Stand Use the chart above: If the weekend sales consisted of Friday thru Sunday selling, what percent to the total week were the weekend sales? Round to the nearest percent.
- 5.Use Bob's Lemonade Stand Chart above. If Bob runs a sale on Monday next week and sells 300 glasses of lemonade, what would the Monday percent to total week sales be if Tuesday thru Sunday sales were identical to last week?
- 6.Dress Department Sales Grid and Formulas You will use this chart in questions 6-19 EOH = BOH - SALES + REC SELL THRU PERCENT (ST%) = SALES / (EOH + SALES) What are Green Sales?
- 7.What are Blue Sales?
- 8.What is Blue BOH?
- 9.What is Blue EOH?
- 10.What is Red REC?
- 11.What is Yellow EOH?
- 12.What is the total for BOH?
- 13.What is the total for REC?
- 14.Use the formula below to answer questions 14-17 (Round answers to the nearest percent) SELL THRU PERCENT (ST%) = SALES / (EOH + SALES) What is the ST% for the Green Dress?
- 15.What is the ST% for the Blue Dress? (Round answers to the nearest percent)
- 16.What is the ST% for the Red Dress? (Round answers to the nearest percent)
- 17.What is the ST% for the Yellow Dress? (Round to the nearest perecent)
- 18.Check the two things the Dress Buyer could do to increase the Yellow Dress ST%
- A.
Lower the price to help increase sales

- B.
Increase BOH to increase sales

- C.
Raise the price to lower inventory

- D.
Cancel receipts in order to lower inventory

- 19.If the Dress Buyer expected to have a 12% ST% next week for Total Dresses, how many dresses is she planning to sell?
- A.
3,400

- B.
5,755

- C.
7,080

- D.
9,240

- 20.Use the following formula to answer questions 20-24 TURNOVER (TO) = SALES / AVERAGE INVENTORY (Avg. Inv.) Sales=75,000 Avg. Inv.= 20,000 What is the Turnover?
- A.
2.75

- B.
3.25

- C.
3.50

- D.
3.75

- 21.Sales= 122,000 Avg. Inv.= 49,000 What is the Turnover?
- A.
2.33

- B.
2.49

- C.
2.53

- D.
2.61

- 22.Two departments each had sales of $100,000. Department A had a TO of 3.2; Department B had a TO of 1.2. What is the Avg. Inv. of each department
- A.
A=31,250 B=83,333

- B.
A=31,250 B=92,750

- C.
A=65,350 B=83,333

- D.
A=65,350 B=92,000

- 23.The Buyer for Department B wanted to increase her TO to a rate of 2.0. What are two ways this could be accomplished?
- A.
Decrease Sales

- B.
Increase Sales

- C.
Avg. Inventory Decrease

- D.
Avg. Inventory Increase

- 24.Use the following formula to answer questions 25-27 % CHANGE LY = (TY SALES - LY SALES) / LY SALES % CHANGE PL = (TY SALES - PL SALES) / PL SALES When discussing sales results, % Change is also called sales trend The following applies to the Housewares Department: TY Sales = $15,500 LY Sales = $13,500 PL Sales =$13,000 What is the sales trend to LY? Round to the nearest percent.
- 25.What is the sales trend to PL? Round to the nearest percent.