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16 Cards in this Set
- Front
- Back
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Pricing Policy of the business
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Pricing Strategy
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Dicount applied if invoice is paid by the end of the CD period
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Anticipation
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Sort products by distinctive features and provide structure/organization for a collection of items
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Merchandise Classification
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Markup calculated using Initial Retail Price of ALL items at a point in time
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Initial Markup
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Markup found on multiple units
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Gross Markup
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Total mix of merchandise that is carried by the retailer
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Merchandise Assortment
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Equated with Net Sales- indicates the amount of sales for the business
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Sales Volume
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Difference between total cost of purchases and total retail dollars of ALL merchandise in stock at a specific time
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Cumulative Markup
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Long Range plan to guide decisions about Retail Matrix Merchandise Assortment, quality, fashion level, etc.
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Merchandise Policy
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Method for calculating Planned sales for a new business where the markup is established by the component addition method (est. op. expenses and profit...rule of thumb for COG)
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Cost Plus Method
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Stock planning method that uses a constant level of stock and adds an amount for sales
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Basic Stock Method
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When the control is completed at the Unit level
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Unit Control
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Shortcut method for finding the discount price without calculating all of the net values
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On Percent Method
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The retailer uses the invoice costs or the cost prices that are assigned by the vendor as the value base for the inventory valuation
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Cost Price Method
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Method most often used by retailers for inventory valuation- uses retail price as value base for the inventory
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Retail Price Method
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Method for inventory valuation using total retail sales for a period as the value base for the inventory
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Quick Method
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