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11 Cards in this Set
- Front
- Back
merchandise that is in the backroom at stores
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Reserve stock
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Merchandise that is hidden on the sales floor and merchandise that is on the floor
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Forward stock
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Includes merchandise in Transit (if retailer owns), Merchandise at the distribution centers, reserve stock and forward stock
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Inventory
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Value at which the merchandise is priced when selling it to the consumer
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Retail Price
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Retailer uses the invoice costs or the cost prices assigned by the vendor as the value base for the inventory
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Cost Price Method
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Method most often used by retailersm especially when markups, markdowns, and other percentages are based on Retail Sales
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Retail Price Method
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Uses total retail sales for a period as the value base for the inventory
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Quick Method
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Method of tracking valuation where the merchandise that arrived first in the store is considered first sold
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FIFO
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Method of tracking valuation where the merchandise that arrived last is considered sold first
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LIFO
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Value of the inventory as kept by the ledgers or computer system
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Book Value
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provide an outline or guide sheet of the optimum stock types and levels that should be maintained
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Model stock plans
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