Each applicant for a permit required by Section 731.01 shall make an application therefor to the Mayor prior to the advertising or offering for sale of any goods, wares or merchandise. Such application shall be on forms provided by the Mayor which shall include, in addition to the name and address of the applicant, the name and address of the person in whose behalf such sale will be conducted, if such is other than the applicant, the date when such sale shall commence and the complete inventory, including the quality, kind, character and wholesale market value, of the goods, wares or merchandise to be offered for sale, which information shall be prepared in the following manner: first, a listing of all goods, wares or merchandise which have been in stock fifteen days or longer prior to the date of such application; second, a listing of all goods, wares or merchandise received in stock within the fifteen days immediately prior to the date of such application; third, a listing of all goods, wares or merchandise which have been or will be ordered and placed in stock during the pendency of such sale; and fourth, such other information relative to the business as may be deemed necessary by the Mayor. If the inventory itemized in the original application is not disposed of within the required time, the Mayor may, as hereinafter provided, renew such permit, and the fee for such renewal shall be determined by the wholesale value of the inventory itemized on an application for permit renewal, which form shall be provided by the Mayor.