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A retailer using the basic stock method wants its basic stock to equal 15 percent of its 2017 average monthly sales. Yearly sales for 2017 are forecast at $3,000,000. Planned sales for January 2017 are $400,000. What is the January 1, 2017 planned inventory value (at retail), using the basic stock method?
A) $415,000
B) $437,500
C) $460,000
D) The answer cannot be determined from the information provided.
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Retail Management: A Strategic Approach

Retail Management: A Strategic Approach


Edition: 13th
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