You have been asked by your boss to compute the ending inventory using the retail method. Explain the steps that you would use in calculating this.
Question 2A grocery store is most likely to employ what type of salespeople?
a. Order getters
b. Persuasive sellers
c. Sales support staff
d. Order takers
e. Informational sellers
Question 3A low-margin, low-turnover retailer will generally not be able to generate sufficient profits to remain competitive and survive.
Indicate whether the statement is true or false
Question 4Although there are exceptions, as a general rule _____ distribution is associated with _____ goods.
a. intensive; shopping
b. intensive; convenience
c. selective; specialty
d. selective; luxury
e. selective; convenience
Question 5If a product is delivered online, the alpha-beta process can accelerate what?
a. consumption
b. distribution
c. competition
d. evolution
Question 6Explain the components of the balance sheet.
Question 7A type of salesperson who informs, guides, and persuades the customer in order to culminate a transaction either immediately or in the future is called a(n):
a. profit-oriented seller.
b. persuasive seller.
c. order getter.
d. task-oriented seller.
e. order taker.
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