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PGA PGM 3.0 Level 2 Merchandise & Inventory Management Exam $9.99   Add to cart

Exam (elaborations)

PGA PGM 3.0 Level 2 Merchandise & Inventory Management Exam

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PGA PGM 3.0 Level 2 Merchandise & Inventory Management Exam ...

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  • October 26, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • PGA PGM 3.0 Level 2 Merchandise
  • PGA PGM 3.0 Level 2 Merchandise
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Easton
PGA PGM 3.0 Level 2 Merchandise & Inventory
Management Exam 2024-2025


How does the overall vision and core values of the facility help the retail manager?

Cements the mission and core values that support the mission



What would the core values and vision be most helpful to the retail manager?

To guide the development of all other components



What should go up in the retail operation in order to go up in value?

Quality and customer service

True or False

If both the turnover rate and average inventory value are known the cost of goods sold
can be calculated. T/F

True



True or False

The BOMI predicts the dollar value of the inventory you need on hand to reach the same
sales targets. T/F

True



True or False

The higher the turnover rate the more inventory you need on hand to reach the same
sales targets. T/F

False

higher turnover means less on hand inventory

,True or False

Knowing the previous year's sales volume is adequate in forecasting sales. (T/F)

False



True or False

Inventory should arrive one to two months prior to the anticipation of the sales. (T/F)

True



The Golf Professional has estimated the annual merchandise sales will be $310,000, the
cost of goods sold will be $205,000, and the rate of turnover is 2.5. What is the average
inventory level at cost?

$82,000

205,000/2.5



What is the formula for COGS?

COGS/Total Sales



True or False

The BOMI predicts the dollar value of the inventory needed at the beginning of each
month to reach monthly sales goals. (T/F)

True



An open-to-buy plan derives the sales estimates and the cost of goods estimates from
what other business management tool?

Historical Data



The main purpose of an open-to-buy plan is to:

Identifying how much to purchase

, The cost of goods sold provides what type of information for a given period of time?

Sold, stolen, lost, and destroyed merchandise

Why do golf professionals have to project BOMI levels?

Approximate amount of inventory needed on hand to achieve sales objectives

What is likely as a result of a high turn?

More sales,

less mark downs,

new fashion leader,

less cost,

better morale among employees,

better return investment

What is a result of a low turn rate in the golf shop merchandising operation?

Dead stock,

heavy mark downs,

low profits,

high expense




If your average inventory value is 37,000 dollars and your annual cost of goods sold is
114,000 dollars what is the turn over rate?

3.08

114,000/56,000



What merchandising condition is most directly related to a high turn rate?

Less inventory



Based on the following information what was the turnover rate for the year?

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