Blog

Select the correct answer that corresponds to the term listed.  

A buyer NEEDS $75,000 of merchandise at Retail with a 40.00% Markup Goal. If the buyer has already purchased $35,000 worth of merchandise (at cost) that will retail for $60,000 at retail, what is the Markup that must be achieved on the BALANCE of the merchandise that still needs to be purchased?

This factor is the difference between the cost of the merchandise and the retail price.

Initial Markup happens ____; Maintained Markup happens _____.

A buyer plans to buy a selection of 200 suits to retail for a total of $33,750.00 with an average markup of 53.00%. She has already purchased 75 suits for $70.00 each (cost).  What is the total budget (COST) left to spend on the balance of suits?  

Customer returns and allowances in the infant’s department for the year amounted to $2,250.00, and were 2.82% of the gross sales. (a) What were the Gross Sales for the infant’s department? (HINT: use Base, Rate, and Percentage Amount formula) and (b) What were the Net Sales in dollars?

The five “rights” of merchandising include all of the following EXCEPT:  

Littering of the grounds with discarded tobacco products is not permitted.

Reneé’s specialty store recorded Gross Sales of $156,000.00 for the year and Net Sales of $136,344.00. Customer Returns and Allowances amounted to $19,656.00. What CRA percent? (percent of merchandise sold that was returned?)

The men’s tie department net sales for the Spring season are $36,000 and total store’s sales are $2,400,000. What is the net sales percentage for the men’s tie department?