Exam 2 (chapter 7) Flashcards by Ella Pflueger

Q

Find inventory turnover rate

A

cost of goods sold / merchandise inventory

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Q

Determine days in inventory

A

365 / inventory rate

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Q

Find gross margin as a percentage of sales

A

gross margin / net sales

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Q

Find net profit as a percentage of sales

A

net profit / net sales

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Q

Slotting fee

A

price to put a product on shelves

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