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10 Cards in this Set

  • Front
  • Back
amount paid for an item
cost
the difference between the cost and the selling price
gross profit
the difference between the regular selling price of an item and its sale price
markdown
the markdown expressed as a percent of the regular selling price of the item
markdown rate
the difference between the cost and the selling price
markup
the markup expressed as a percent
markup rate
your markup is longer than your overhead or operating expenses
net profit
the net profit expressed as a percent of the selling price of the item
net profit rate
include wages and salaries of employees, rent, utility charges, and taxes
operating expenses
or retail price, is what a product actually sells for in the store
selling price