3-2 problem set

Billed Cost

· Billed cost = List price minus trade discounts(s)

· Billed cost = # Units purchased

Book Inventory

· Book inventory at retail = Physical inventory + Net retail purchases (Total merchandise handled) + Other stock additions Net sales Markdown differences Other deductions from stock

· Book inventory at cost Opening retail book inventory (100% Cumulative markup % achieved on stock Purchases)

Build/Percentage Change/Trend

· Build/percentage change/trend = × 100

· Build/percentage change/trend = × 100

Cost (Markup Formulas)

· Cost $

· Cost % =

· Cost %

· Cost %

· Cost $

Cost of Goods Sold

· Total cost of goods sold $ Billed cost $ + Inward freight charges $ + Workroom cost $ minus Cash discount $

·

· Cost of goods sold $

Customer Returns and Allowances

· Customer returns and allowances $ Total of all refunds or credits to the customer on individual items of merchandise $ Number of units actually returned

· Customer returns and allowances %

· Customer returns and allowances $ Gross sales $ Customer returns and allowances % and allowances $

Cumulative Markup %

· Cumulative markup % 100

Department’s Net Sales

· Department’s net sales % of total stores sales

Gross Margin

· Gross margin = Net sales

· Gross margin $ = Gross margin %

· Gross margin % = × 100

Gross Margin %

· Gross margin % 100

· Gross margin % 100

· Gross margin % 100

Gross Sales

· Gross sales Total of all prices charged to consumers of individual items Number of units actually sold

Gross Sales $

Initial Markup %

· Initial markup %

· Initial markup %

· Initial markup %

Maintained Markup %

· Maintained markup % 100

· Maintained markup % 100

· Maintained markup % Initial markup % Retail reduction % (100% Initial markup %)

· Purchase balance Total planned Purchases to date (pieces, retail, cost, or markup %)

Markdown

· Markdown $ Original or present retail price $ New retail price $

· Markdown $ Percentage off Present retail price $

· Total markdown $ First total $ markdown Second total $ markdown

· Planned Markdown $ N Markdown %

· Markdown %

· Markdown %

· Markdown cancellation Higher retail $ Markdown price $

· New Markdown $ Gross markdown $ Markdown canellation$

Markup

· Markup $ Retail $ Cost $

· Markup % on retail 100 or 100

· Markup % on retail 100 or 100

· Cumulative retail markup % on entire purchase

· 100 or 100

Net Cost

· Net cost $ = Billed cost $ Cash discount $

· Net cost $ = List price $ Trade discount(s) $ Cash discount $

Net Profit

· Net profit = Net sales

· Net operating profit = G

· Net profit $ = Net profit $

· Net profit% = × 100

Net Sales

· Net Sales $ = Gross sales $ Customer returns and allowances $

Operating Expenses

· Operating expenses = D

· Operating expenses $ = O

· Operating expenses = × 100

Retail

· Retail $ Cost $ Markup $

· Retail % Cost % Markup %

· Retail $ or

Retail Reduction %

· Retail reduction %

Sell Through Percentage

· Sell through %

· Shortage or overage

· Shortage (or overage) $ Closing book inventory at retail $ Physical inventory count at retail $

· Shortage %

· Planned dollar shortage Planned shortage percentage Planned net sales $

Weeks of Supply

· Weeks of Supply