RCSC 304 Study Guide - Final Guide: Merchandising, Gross Margin
17 Apr 2016
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Document Summary
Average retail stock sum of retail inventories at the beginning of each year, season, month, or week. Basic stock methods stock size using a constant basic stock figure with a turnover rate. Bom stock the beginning of the month stock figure in dollars. Dollar merchandise plan a roadmap indicating projected sales, stocks, markdowns, and purchases, as well as the desired markups, usually prepared biannually in advance of the selling season. Usually designates dollar value of stock at the end of the month. Flash report daily report indicating sales amount. Gmroi (gross margin return on investment) the relationship between the average inventory at cost and gross margin. Gross margin divided by average inventory at cost. On order unfilled orders, also known as open orders. Merchandise plan a combination of a dollar merchandise plan and an assortment plan. Open to buy (otb) the amount of unspent money available for purchasing merchandise.
