Math for Merchandising: A Step-By-Step Approach

by Moore, Evelyn C.

• ISBN13: 9780130182029
• ISBN10: 0130182028
• Edition: 2nd
• Format: Paperback
• Copyright: 2002-01-01
• Publisher: Pearson College Div

Summary

For Merchandising Math and Buying courses offered by Junior Colleges and Vocational Schools. This book provides a practical application of the skills necessary to a merchandising career. Beginning with the fundamentals of working with numbers, it moves into the skills needed to communicate words and thoughts into calculators or computers as a means of translating business needs into clear mathematical answers.

Table of Contents

PART I Introduction	1	(36)
Using Your Workbook and Calculator	3	(6)
Using Your Workbook	3	(1)
Using Your Calculator	4	(5)
Common Operating Keys for a Basic Calculator	4	(1)
Basic Keys	5	(1)
Decimal Point	5	(1)
Percent Key	5	(4)
Percentages	9	(28)
Using Percents	9	(1)
Basic Math Skills	10	(7)
Fractions and Decimals	10	(2)
Dozens	12	(2)
Rounding	14	(1)
Working with Percents	15	(2)
Helpful Hints	17	(8)
Applying Percents to Merchandising Concepts	25	(9)
Using Percents to Analyze, Compare, and Set Direction	34	(3)
PART II Purchasing Concepts	37	(32)
Purchasing Product: The Terms, Conditions, and Forms Used for Buying Merchandise	39	(30)
Terms and Conditions	40	(1)
Price of the Product	40	(1)
Payment Terms	40	(1)
Shipping Terms	40	(1)
Forms	40	(13)
Purchase Orders	42	(4)
Invoices	46	(2)
Return-to-Vendor Forms	48	(5)
Negotiating	53	(16)
Price of the Product	56	(57)
List Price
Dating and Payment Terms	57	(4)
Shipping Terms	61	(8)
PART III Pricing and Repricing Merchandise	69	(66)
Individual Markup and Initial Markup	71	(30)
Principles of Markup	71	(30)
Formulas and T-Chart Grids	75	(1)
Finding the Specific Dollar Amounts	76	(2)
Finding Percents	78	(2)
Finding Total Dollar Amounts	80	(21)
Average, Cumulative, and Maintained Markup	101	(20)
Average Markup	102	(19)
Cumulative Markup	107	(3)
Maintained Markup	110	(11)
Markdowns	121	(14)
Traditional Markdown	122	(1)
Promotional Discount Markdown Reductions	123	(1)
Employee Discounts	123	(7)
Merchandise Planning	130	(5)
PART IV Merchandise Planning	135	(92)
Elements of a Six-Month Merchandising Plan	137	(10)
Purpose of a Six-Month Plan	137	(3)
Elements of a Six-Month Plan	140	(7)
Analyzing Last Year's Merchandising Plan	147	(18)
Analyze Sales	147	(1)
Evaluate Stock	148	(1)
Evaluate Markdowns	148	(1)
Evaluate Purchases at Retail	149	(1)
Evaluate Purchases at Cost	149	(1)
Measure Average Stock and Turnover	149	(1)
Using a Six-Month Plan	150	(15)
Analysis and Interpretation	152	(13)
Changing a Six-Month Plan Using Historical Data	165	(18)
Analyze the Given Information	165	(1)
Determine Sales	166	(1)
Figure Out the Stock Data	166	(1)
Calculate Markdown	166	(1)
Determine Planned Purchases	167	(1)
Measure Average Stock and Turnover	167	(1)
Changing a Six-Month Plan	168	(1)
Analyze the Given Information	168	(1)
Determine Sales	169	(1)
Figure Out the Stock Data	169	(2)
Calculate Markdowns	171	(1)
Determine Planned Purchases	171	(1)
Measure Average Stock and Turnover	172	(11)
Developing New Six-Month Plans	183	(20)
Analyze the Given Information	183	(1)
Determine Sales	184	(1)
Figure Out the Stock Data	184	(1)
Calculate Markdowns	185	(1)
Plan Monthly Purchases	186	(1)
Developing a Six-Month Plan	186	(1)
Analyze the Given Information	186	(1)
Determine Sales	187	(1)
Figure Out the Stock Data	187	(1)
Calculate Markdowns	188	(1)
Plan Monthly Purchases at Retail and Cost	189	(14)
Calculating Open to Buy	203	(6)
Open to Buy	203	(1)
Determining Open to Buy	204	(5)
Classification Planning	209	(18)
Building a Model Stock Through Classification Planning	211	(16)
First Steps in Building a Model Stock Through Classification Planning	211	(1)
Next Steps in Building a Model Stock Through Classification Planning	211	(1)
Elements of a Typical Classification Plan	212	(1)
A Specific Example	212	(15)
PART V Profitability	227	(30)
Operating Statements	229	(22)
Purpose of an Operating Statement	229	(3)
Format of Operating Statements	232	(6)
Determining Net Cost	238	(13)
Sales Per Square Foot	251	(6)
PART VI Corporate Buying and Planning	257	(26)
Cost Sheets and Pricing	259	(24)
Fashion Trends	259	(4)
Cost Sheets	263	(5)
Calculating Markup	268	(3)
Store Markup	269	(2)
Costing and Pricing: Wholesale versus Private Label	271	(12)
Workbook Aids: Formulas and Answers	283	(4)
Basic Business Formulas	285	(2)
Helpful Hints	285	(1)
Basic Markup Formulas	285	(1)
Analyzing and Evaluating Six-Month Merchandising Plans	286	(1)
Developing a Six-Month Merchandising Plan	286	(1)
Profitability	286	(1)
Cost of Goods To Be Sold	286	(1)
Answers	287	(44)
Index	331