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Brand: Martec International

Content Type: Individual Course

Bundle Feature: Also available as part of a bundle

Communication Method: AICC

Technical Requirements: Click here for details

 

Buying & Merchandising Go To Bundle

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Basic Retail Financials is the second of the 7 modules in the Buying & Merchandising course. It is available as part of the larger Buying & Merchandising course or as a separate stand-alone module.

By the end of this module you should be able to:

1. Calculate an Open to Buy and explain how it is used as an inventory management tool.
2. Describe the decision making process surrounding pricing.
3. Explain the strategies involved in determining retail pricing.
4. Describe the decision making process surrounding markdowns and how it affects profitability.
5. Be able to discuss the advantages and disadvantages of Retail and Cost methods of accounting
6. Describe the various methods of inventory valuation.
7. Define inventory turn, how it affects profitability, and ways to improve it.
8. Calculate Cost of Goods Sold and describe ways to reduce it.
9. Describe common retail math formulas and how they are used.

Estimated time to review this module is 1 1/2 to 2 hours.