Retail Math Pre-Test

1.  Calculate the same store sales change given the following information:
TY Sales = $5,000
LY Sales = $4,900

 

2.  Calculate average price given the following information (round to the nearest penny):
Units sold = 2,000
Sales $ = $5,000

 

3.  If a product’s initial retail price is $2.25, and its unit cost is $1.00, what is the initial margin?

 

4.  If a product’s initial margin is 25% and its price is $40, what is the product’s cost?  (round to the nearest penny.)

 

5.  A product category had sales of $500,000 and markdowns of $100,000.  What was the category’s markdown percent?

 

6.  A product category had retail inventory turns of 7.0 and sales of $1,450,000.  What was the category’s average inventory level in dollars?  (round to the nearest penny.)

 

7.  Calculate GMROI based on the following numbers:
Annual profit = $300,000
Average inventory at cost = $75,000

 

8.  If a product has sales of $365,000 and an average retail inventory of $24,500, what is that product’s retail turn?

 

Note that a printable version is available HERE.
Also the answer key can be viewed HERE.

 

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