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Retail Financials
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Retail Financials
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25 Questions

1. An aggregate of the original selling price. Should cover all expenses of the store - desired profit - take into account price reductions - alteration costs.

2. Net Profit After Taxes/ Net Worth

3. Total Expenses/ Net Sales

4. The largest sum of money in current assets. Can be presented in either cost or retail terms. Should be purchased for a short period of time - as products lose monetary value over time and are subject to markdowns.

5. Dollar Markdown of Merchandise/ original retail selling price of merchandise being marked down

6. Sales for the period/ average inventory

7. Usually lower than original - but held for longer period

8. (Cash + Accounts Receivable) / Current Liabilities

9. Based on a calculation commonly represented as a percentage - comparing the amount of inventory a retailer receives from a manufacturer or supplier against what is actually sold to the consumer

10. Inventory Valuation Method that combines taking inventory at retail prices and adjusting the cost value to reflect current retail value. 5 Steps Involved.

11. In the Cost Method. Merchandise most recently purchased is assumed to have been sold first. Therefore - the ending inventory reflects the items in stock for the longest period of time. Produces lowest ending inventory value and highest cost of goods

12. Assets collected within one year. Due to the widespread use of credit cards - AR for retailers has diminished with exceptions such as lay-a-way.

13. Current Assets/ Current Liabilities

14. Cannot be readily converted to cash within one year. (Fixtures - equipment - land/buildings)

15. Reduction in price of an item - if that item is sold - the result is a lower monetary intake for that item

16. Basic premise is to increase profits through more sales without an increase in inventory. Inventory is expressed in cost terms rather than cost percent - because it is related to investment dollars in gross margin - it should be expressed in cost num

17. Improper displays - merchandise returns due to high pressure selling

18. 1. Determine merchandise available for sale at both cost and retail prices. 2.Calculate the cost to retail complement or percentage relationship of the cost of merchandise to the selling price. 3. Subtract markdowns taken during the period. 4. Determ

19. Cash Received by the retailer-cash leaving the retailer

20. Total Markup on all goods on hand/ retail price of all goods on hand

21. Dollar markup ($)/ cost price ($)

22. One that is just enough to move the goods

23. Financial debts incurred by a retailer

24. Price Lining - price zones - price ranges

25. Amount of markdown usually less - take the loss early will be easier - strengthen goodwill - replenish stock in lower price lines - leads to higher stock turnover - higher likelihood merchandise will sell in a timely manner

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