Deck 3: Measurements and Productivity

Question 1

A measure of space including height,width,and depth is:

A)Cubic ft.
B)Linear ft.
C)Singular ft.
D)Square ft.

Answer 1

A

Question 2

For a space of 20 square feet with a stock turn of 4,sales of $800,and profit of $200,what is the profit per square foot?

A)$10
B)$20
C)$40
D)$60

Answer 2

A

Question 3

The total sales made within a given period of time:

A)Cost
B)Gross sales
C)Mark-up
D)Net Sales

Answer 3

B

Question 4

The total sales minus any deductions in sales including customer returns.

A)Cost
B)Gross sales
C)Mark-up
D)Net Sales

Question 5

For a space of 20 square feet with a stock turn of 4 ,sales of $800,and profit of $200 the movement per square ft.is:

A)20%
B)5%
C)33%
D)25%

Question 6

The number of products which fit on a shelf across the front of the shelf,to the back of the shelf,and stacked against each other is:

A)Capacity
B)Days of supply
C)Movement
D)Shelf turns

Question 7

The markup percentage of an item costing $15 and retailing for $20.

A)25%
B)40%
C)60%
D)75%

Question 8

This measure of inventory efficiency determines if there is enough products on the shelf until the next delivery.

A)Capacity
B)Days of supply
C)Movement
D)Shelf turns

Question 9

An example of a permanent markdown is:

A)a buy one get one free advertisement.
B)a weekend promotion
C)an employee discount
D)at the end of the season

Question 10

The difference in the cost of a product and the retail price.

A)Cost
B)Gross sales
C)Mark-up
D)Net Sales

Question 11

A markdown may be taken to do all but the following:

A)Compete with other retailers
B)Lower inventory levels
C)Increase profitability on a single sku
D)Lower sales of a single sku

Question 12

The GMROII for a product with a gross margin of $50 and average inventory costs of $10 is:

A)2
B)4
C)5
D)7
E)9

Question 13

The markup percentage of an item costing $12 and retailing at $20 is:

A)25%
B)40%
C)60%
D)75%

Question 14

The markdown percentage of an item with an original retail of $32 and the new retail of $24 is:

A)25%
B)40%
C)60%
D)75%

Question 15

The markdown percentage of an item with an original retail of $120 and the new retail of $72 is:

A)25%
B)40%
C)60%
D)75%

Question 16

The _______________ markup is the first markup placed on a product or SKU.

Question 17

The markup percentage for an item costing $6 and retailing at $24 is:

A)25%
B)40%
C)60%
D)75%

Question 18

Typical reasons merchandise may become a slow seller is all BUT:

A)Merchandise arrived late for the season
B)Merchandise is in a low traffic area
C)Poor assortment
D)Typical weather

Question 19

For a space of 20 square feet with a stock turn of 4,sales of $800,and profit of $200 what are the sales per square foot?

A)$20
B)$25
C)$30
D)$40

Question 20

The markdown percentage of an item with an original retail of $50 and the new retail of $12.50 is:

A)25%
B)40%
C)60%
D)75%

Question 21

Retailers take _______________ so determine the lowest markdown possible at which a customer will buy a product.

Question 22

Which do you think is a better measure of productivity: sales per sq.ft or profit per sq.ft.? Explain.

Question 23

The _______________ markup is the aggregate markup on a single SKU.

Question 24

Which is a better measure for shirts on shelves: sales per cubic ft.or sales per sq.ft? Why?

Question 25

_______________ is determined by adding the total markdown dollars for the period divided by the net sales for the period.

Question 26

Gross margin is _______________ minus _______________ costs minus _______________ costs plus _______________.

Question 27

When retailers first take a 15% markdown,followed by a 25% markdown,and then a 50% markdown is called a _______________.

Question 28

_______________ is calculated by taking the amount of the markup and dividing by the retail price.

Question 29

If you are a category manager would you rather the retailer use traditional accounting or activity based accounting? Why?

Question 30

Which is more accurate for apparel on a four-way: sales per cubic ft.or sales per sq.ft?

Question 31

Type of account system which organizes costs of key activities to relate a related product or products is _______________.

Question 32

A product originally retails for $50 and cost $25 dollars sells at $40 the _______________ is 20%.

Question 33

_______________ markdowns are permanent markdowns taken at the end of a season.

Question 34

How is shelf turn related to days of supply?

Question 35

_______________ markup is the difference in the cost of the merchandise and the actual selling price.

Question 36

A _______________ assortment is when all items in an assortment are no longer available.