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16 Cards in this Set

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