Identify and explain one main gap between your manufacures and customers you believe your retailer will fill.
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Identify and explain one main gap between your manufacures and customers you believe your retailer will fill.
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- Explain some of the differences that make merchandising businesses and service businesses different from each other. The text below may help you. Use evidence from the text below to support your response. Read: A service business sells its services for a fee. A merchandising business is a business that purchases goods and sells them. If you are selling those goods to the general public for use or consumption, your business is a retail merchandising business. Many of the transactions of a service business and a merchandising business are the same. You pay cash for supplies and buy on account, just like in a service business. However, transactions like these occur more often and include different elements to account for. For example, there is a lot more purchasing of goods on account to have an inventory to sell. Also, an asset account for all those purchases is needed. A merchandising business may have a much higher volume of sales and may have to charge sales tax depending on city,…How can you provide recommendations to improve efficiency in a parts store?Merchandising businesses differ from service businesses. Explain some of the differences that make the businesses different from each other. Use evidence from the text below to support your response. For example, -In the text, it says," ___________________." Read: A service business sells its services for a fee. A merchandising business is a business that purchases goods and sells them. If you are selling those goods to the general public for use or consumption, your business is a retail merchandising business. Many of the transactions of a service business and a merchandising business are the same. You pay cash for supplies and buy on account, just like in a service business. However, transactions like these occur more often and include different elements to account for. For example, there is a lot more purchasing of goods on account to have an inventory to sell. Also, an asset account for all those purchases is needed. A merchandising business may have a much higher volume of…
- Define value chain and classification of costs for “Distribution costs for shopping the Latitude line of products to a retail chain.”What are some benefits to a retailer for offering a discount to a customer?You have decided to open up a small convenience store in your hometown. As part of the initial set-up process, you need to determine whether to use a perpetual inventory system or a periodic inventory system. Write an evaluation paper comparing the perpetual and periodic inventory systems. Describe the benefits and challenges of each system as it relates to your industry and to your business size. Compare at least one example transaction using the perpetual and periodic inventory systems (a purchase transaction, for example). Research and describe the impact each system has on your financial statements. Decide which system would be the best fit for your business, and support your decision with research.
- Computing cost of goods sold, merchandising company Use the following information for The Windshield Helper, a retail merchandiser of auto windshields, to compute the cost of goods sold:How does the strategic profit model assist retailers in planning and evaluating the performance of their marketing and financial strategies? What differences would you expect to see when comparing Gifts To Go’s specialty store strategic profit model with that of two dry-cleaning service businesses?What are some basics to consider when opening a parts store to improve efficiency??
- Identify 2 advantages and 2 disadvantages for each for the measures below implemented by the retailers during the outbreak of covid-19. i. Live streaming can help retailers facilitate a “see now, buy now” culture, which enables them to instantly inform consumers about their products and create an urge to purchase. ii. improvement of online ordering and delivery services.What may be the likely response as more shoppers learn that retailers gather information without their knowledge?Saurez Company, your client, manufactures paint. The company’s president, Maria Saurez, has decided to open a retail store to sell Saurez paint as well as wallpaper and other supplies that would be purchased from other suppliers. She has asked you for information about the conventional retail method of pricing inventories at the retail store. Instructions Prepare a report to the president explaining the retail method of pricing inventories. Your report should include the following points. a. Description and accounting features of the method. b. The conditions that may distort the results under the method. c. A comparison of the advantages of using the retail method with those of using cost methods of inventory pricing. d. The accounting theory underlying the treatment of net markdowns and net markups under the method.
