Practical Merchandising Math

Leo Gafney (Author)

9780471145189, Wiley

Paperback / softback, published 28 February 1996

320 pages
24.1 x 18.8 x 1.8 cm, 0.538 kg

It's easier than you think to perform every retail math calculationquickly, accurately, and with confidence

Mathematics is an essential tool for determining every financialarrangement important to a retail business. Whether you're buyingmerchandise, figuring business expenses, pricing merchandise, orrecording transactions, a solid working knowledge of practicalcalculating procedures is indispensable. But don't worry, we're nottalking algebra, trigonometry, or calculus--just simple arithmeticyou can perform using a calculator.

Practical Merchandising Math helps you teach yourself all the mathyou need to succeed in the retail industry. You'll learn tocalculate markon, markup, and markdown; plan net sales, purchases,and stock turnover; and determine expenses and gross margin. You'llalso learn the meanings of important terms and discover how thefour retail areas where math is required--buying, selling,expenses, and record-keeping--are interrelated. This easy-to-useguide
* Covers all financial considerations relevant to costing andpricing merchandise
* Includes sample calculations with solutions
* Features handy, quick-reference charts for standard markonpercentages
* Presents material in short sections followed by self-checkpractice exercises

Don't let math phobia become a roadblock on your way to retailsuccess. Develop the skills you need, quickly and easily, with thehelp of Practical Merchandising Math.

Partial table of contents:

PURCHASING AND PRICING.

Transportation Terms and Charges.

Terms and Dating.

Markon Based on Selling Price.

Markon Based on Cost Price.

Average Markon.

COMPUTING AND COVERING EXPENSES.

Gross Margin.

Expenses.

Initial Markon.

Cumulative Markon.

Markdown.

Stock Turnover.

SELLING.

The Merchandise Plan.

Planning Sales.

Planning Stocks.

Planning Purchases: Open-to-Buy.

The Selling Cost Percent.

RECORD KEEPING.

Inventory Valuation.

Comparing Departments.

The Income Statement.

Appendix.

Index.

Subject Areas: Business & management [KJ]