Biology Forums - Study Force

Fashion Barn's total cost valuation of inventory is 120,000 and its total retail valuation is 300,000 . The adjusted retail book inventory figure has been determined to be 250,000 . Using the retail method of inventory valuation, what would be Fashion Barn's approximate closing inventory figure at cost?
 a. 50,000
  b. 70,000
  c. 100,000
  d. 130,000
  e. 180,000

Question 2

Promotional advertising attempts to bolster short-term performance by using product availability and price as a selling point.
 
 Indicate whether the statement is true or false

Question 3

_____ refers to the number of times per year, on average, that a retailer sells its inventory.
 a. Periodic inventory
  b. Carrying cost of inventory
  c. Inventory reserve
  d. Perpetual inventory
  e. Inventory turnover

Question 4

Intratype competition is the most common type of retail competition.
 
 Indicate whether the statement is true or false

Question 5

Mass customization and choice assistance are two approaches to what?
 a. communication
  b. personalization
  c. digitization
  d. interaction

Question 6

An excess of physical inventory over book inventory is usually caused by:
 a. customer shoplifting.
  b. markdowns.
  c. bookkeeping errors.
  d. too high of markups.
  e. employee discounts.

Question 7

Creating a positive store image is a long term promotional objective for retailers using institutional advertising.
 
 Indicate whether the statement is true or false

Question 8

Which of the following is NOT an operating expense?
 a. Rent
  b. Cost of goods sold
  c. Depreciation
  d. Utilities
  e. Wages

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