Merchandising Math for Retailing

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With a focus on understanding profit factors, this text provides a basic knowledge of the principles and techniques of real-world merchandising mathematics. Building on the authors’ extensive retail experience, the book explains how to apply these fundamentals to realistic, everyday retail merchandising problems. Its workbook format encourages interactive learning and space is provided so practice problems can be worked right in the text. It includes a basic math refresher, realistic problems, worked-out examples and clear explanations. Case studies have been added to this edition and cumulative summary exercises can be used to evaluate student progress. Companion materials and supplements for instructors and students are available online. Salient Features Math applications specific to retailing-makes this text an excellent resource for students, buyers and small store owners. Workbook format-includes workspace to complete practice problems right in the text. Realistic problems, worked-out examples and clear explanations-are presented throughout the text. Cumulative summary exercises-are found at the end of each chapter. A review of basic mathematics, decimals, percents, and fractions-gives students a refresher on basic arithmetic. Suggestions for working select problems on a computer spreadsheet-includes examples of spreadsheets used for problems having to do with retail method of inventory and six-month merchandise plans. Highlighted formulas-are set in boxes throughout and listed at the end of each chapter. Table of Contents Introduction Basic Merchandising Mathematics Profitability Cost of Merchandise Sold Markup as a Merchandising Tool Retail Pricing for Profit Inventory Valuation The Dollar Merchandise Plan Dollar and Unit Open-to-Buy