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More About This Textbook
Overview
It's easier than you think to perform every retail math calculation quickly, accurately, and with confidence
Mathematics is an essential tool for determining every financial arrangement important to a retail business. Whether you're buying merchandise, figuring business expenses, pricing merchandise, or recording transactions, a solid working knowledge of practical calculating procedures is indispensable. But don't worry, we're not talking algebra, trigonometry, or calculus—just simple arithmetic you can perform using a calculator.
Practical Merchandising Math helps you teach yourself all the math you need to succeed in the retail industry. You'll learn to calculate markon, markup, and markdown; plan net sales, purchases, and stock turnover; and determine expenses and gross margin. You'll also learn the meanings of important terms and discover how the four retail areas where math is required—buying, selling, expenses, and record-keeping—are interrelated. This easy-to-use guide
* Covers all financial considerations relevant to costing and pricing merchandise
* Includes sample calculations with solutions
* Features handy, quick-reference charts for standard markon percentages
* Presents material in short sections followed by self-check practice exercises
Don't let math phobia become a roadblock on your way to retail success. Develop the skills you need, quickly and easily, with the help of Practical Merchandising Math.
Product Details
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Meet the Author
LEO GAFNEY is a former high school math teacher who has written math self-teaching guides and textbooks for business people, college students, and for secondary and elementary school programs. He was an editor and editorial director for math books at McGraw-Hill Book Company for 11 years, and was responsible for school mathematics, business math, and accounting texts.
Table of Contents
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.