Rcs test questions with complete solutions

Rcs test questions with complete
solutions3

The Dollar Merchandise plan - ANSWERS-A projection in dollars of the sales goals of the store
department over period of time.

Two types: top-bottom planning and bottom-up planning



Open-To-Buy - ANSWERS-Amount of unspent money available for purchasing merchandise;
known as open-to-received



Six-Month Merchandise Plan - ANSWERS-A took that translate profit objectives into a
framework for merchandise planning and control.



Planning Sales - ANSWERS-This is the most significant bc it is the basis for establishing the
stock,markdown, and purchase figure; are planned on a net sales basis.



Methods of Planning Stock - ANSWERS-Basic, Weeks' Supply, and Stock-Sales ratio



Stock Turnover - ANSWERS-A number of tkmes the average stock is sold during a given period of
time in a relation to the sales for the same period.



Basic Stock Method - ANSWERS-The minimum stock that should be maintained at all times



Weeks' Supply Method - ANSWERS-Plans stock on a weekly basis; the set of amount of stock
equals a calculated number of weeks' supply.