cheat sheet 2

cheat sheet 2 - Initial MU Estimated exp+ price reduction+...

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Initial MU Estimated exp+ price reduction+ profit= $MU Planned sales+ price reduction= original retail price MU/original retail price= initial MU Initial MU%(given GM% and retail reduction) GM% + retail reduction%/ 100% (sales)+ retail reduction% Initial MU%(given GM and retail reduction in dollars) $GM+ retail reduction/$sales + $retail reduction initial MU%(given cash discount and alteration costs) initial MU%= GM%+ alteration cost %- cost discount earned%+ retail reduction%/sales (100%)+ retail reduction% cumulative MU%= cumulative MU$/ cumulative retail$ change % into $ amount = % X net sales net sales cost of goods sold +new purchases +inward freight total merchandise handled -closing inventory gross cost of merchandise -cash discounts earned net cost of merchandise sold +alterations/workroom costs total cost of merchandise sold gross margin= net sales – total cost of merchandise sold = expense-profit GM%= net sales- total cost of goods sold MMU%= net sales- gross cost of goods sold GM%= maintained MU+ cash discounts- alteration costs/net sales MMU%= gross margin- cash discounts+ alterations costs/ net sales Finding maintained markup(given initial MU and retail reductions) MMU% initial MU%- retail reductions% X (100%- initial MU%) Finding retail reductions (given initial MU and maintained MU)
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Reduction%= initial MU- MMU%/sales (100%)-initial MU% Averaging cost (given retail and MU%) Step 1: find total planned retail (500 pieces X $ amount) Step 2: find total cost of total planned retail using planned MU% C= R X (100%- MU%) Step 3: find the cost of purchase to date (100pieces X $paid) Step 4: find purchase bal in units and dollars Purchas bal= total planned figures- purchase to date Step 5: find avg. cost of purchase balance . Average cost of purchase balance= $ cost on balance of purchase/ purchase balance # of units Averaging retail(s) (given cost and MU%) Step 1: find the total cost and total units of purchase Step 2: find total retail from planned MU% R= cost/(100%- MU%) Step 3: find average retail for each piece Average retail= total retail/ total units purchased Averaging MU% (given retail and planned MU%) Step 1: find the total cost of total planned retail from planned MU% C=R X (100%- MU%) Step 2: find total cost and retail of purchase to date Price at cost X amount paid= total cost Price at retail X amount paid= total retail Step 3: find purchase balance at cost and at retail Purchase balance= total planned $cost and $retail amounts- respective figures of purchase to date step 4: find the MU% on purchase balance $MU= R-C limitations of the MU% as a guide to profits sales -cost of goods sold answer initial MU answer expenses (-) markdowns (+) (expenses and markdowns) (-) total profit increase of retail value purchase (total retail value of merh. Received) + transfers in, at retail total stock additions (total ins)
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decrease of retail vale net sales +transfers out at retail +return to vendor +employee discounts +MD differences total stock deductions (total outs)
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cheat sheet 2 - Initial MU Estimated exp+ price reduction+...

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