Pricing merchandise

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  • Chapter 17 - Merchandise inventory. After reading this chapter, you should be able to: Compute inventory cost by applying four commonly used costing methods, compare the effects of different methods of inventory costing, compute inventory value under the lower of cost or market rule, estimate inventory cost using the gross profit method, estimate inventory cost using the retail method, define the accounting terms new to this chapter.

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  • After studying this chapter you will be able to understand: Describe a merchandiser’s cost of goods sold, how do we compute gross profit for a merchandising company? Explain why use of the perpetual inventory system has dramatically increased; identify which items are subtracted from the list amount and not recorded when computing purchase price: freight-in, trade discount, purchase discount, purchase return;...

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  • An understanding of the principles of bookkeeping and accounting is essential for anyone who is interested in a successful career in business. The purpose of bookkeeping and accounting is to provide information concerning the financial affairs of a business. This information is needed by owners, managers, creditors, and governmental agencies. An individual who earns a living by recording the financial activities of a business is known as a bookkeeper, while the process of classifying and summarizing business transactions and interpreting their effects is accomplished by the accountant.

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  • E very antiaircraft gun in Richmond seemed to thunder at once. The sky above the capital of the Confederate States filled with black puffs of smoke. Jake Featherston, the President of the CSA, had heard that his aviators called those bursts nigger-baby flak. They did look something like black dolls— and they were as dangerous as blacks in the Confederacy, too. U.S. airplanes didn’t usually come over Richmond by daylight, any more than Confederate aircraft usually raided Washington or Philadelphia or New York City when the sun was in the sky.

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  • One Sunday morning in 1983, the day before we were having the grand opening of the store, we were still working inside the shop, nailing and tacking, although the window displays were done, when a really scruffy, disheveled-looking man with wild hair, unshaven, and wearing torn blue jeans, walked in, pointed to an ensemble in the window and said, ‘‘I’ll take that. I need size 8 and that looks like it.’’ He didn’t even ask the price! It was about $900, I think. Anyway, I was new to the business and nervous, and this was the first customer.

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  • Chapter 8 - Accounting for purchases and accounts payable. After reading this chapter, you should be able to: Record purchases of merchandise on credit in a three-column purchases journal, post from the three-column purchases journal to the general ledger accounts, post credit purchases from the purchases journal to the accounts payable subsidiary ledger,...

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  • Chapter 12 - Accruals, deferrals, and the worksheet. After reading this chapter, you should be able to: Determine the adjustment for merchandise inventory, and enter the adjustment on the worksheet; compute adjustments for accrued and prepaid expense items, and enter the adjustments on the worksheet; compute adjustments for accrued and deferred income items, and enter the adjustments on the worksheet; complete a 10-column worksheet; define the accounting terms new to this chapter.

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  • Lecture Retailing management (6/e): Chapter 15 - Pricing. This chapter presents the following content: Why is pricing important? Considerations in setting retail prices, price setting approach used by retailers, types of price discrimination, how can retailers reduce price competition?...

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  • Revenues: the price of products, merchandise, and services supplied by a firm to its customers during a certain period

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  • Parallax wanrrants its products against in materials and workmanship for aperiod of 90 days, If you discover adefect ,Parallax will at its option, repair, or refund the purchase price. Simply call for a Return Merchandise Authorization (RMA) number, write the number on the outside of the box and send it back to parallax.

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  • Warranty Parallax warrants its products against defects in materials and workmanship for a period of 90 days. If you discover a defect, Parallax will, at its option, repair, replace, or refund the purchase price. Simply call for a Return Merchandise Authorization (RMA) number, write the number on the outside of the box and send it back to Parallax. Please include your name, telephone number, shipping address, and a description of the problem.

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  • Retailing has undergone dynamic change in a few decades. Regional and national chainstore organizations have grown rapidly. In our automobile age, retail stores have become fewer and larger. They also have enlarged their services to buyers. Retailers, wholesalers, processors, farmer cooperatives and farm organizations and trade associations are engaged in merchandising farm products.

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  • Throughout the 1950s and 1960s, New Zealand’s exports were concentrated on a few products and on the United Kingdom market. The collapse in the price of wool and the entry of Britain into the European Union (EU) resulted in marked product- and export-market diversifi cation. New Zealand’s export-product concentration is still somewhat higher than the OECD mean. New Zealand’s export-market concentration, on the other hand, is slightly lower than the OECD mean, refl ecting a more diverse range of export markets.

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