Profit II

Card Set Information

Author:
Anonymous
ID:
76637
Filename:
Profit II
Updated:
2011-04-01 14:15:49
Tags:
PROFIT
Folders:

Description:
VOCAB.
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  1. AVERAGE COST
    The proportioning of different cost amounts that can carry retail prices that achieve the desired markup percentage.
  2. AVERAGE RETAIL
    Price that will achieve desired markup percentage.
  3. AVERAGING MARKUPS
    The adjustments of the proportions of goods purchased @ different markups. A composite of the relationship between all cost & retail for a department or grouping of goods during a specific time.
  4. CUMULATIVE MARKUP
    The markup percentage achieved on all goods available for sale from the beginning of a given period. It is the markup in dollars or percentages obtained on the accumulative inventory at the beginning of the given period, plus the markup of all the new purchases received season-to-date.
  5. FINAL SELLING PRICE
    Price received when an item is sold.
  6. MAINTAINED MARKUP
    The difference between the cost of goods and the actual selling price of the merchandise sold.
  7. RETAIL REDUCTIONS
    Markdown plus stock shortages and employee discounts.

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