| A | B |
|---|
| buying office | represents many manufacturers and assists with purchasing |
| cash discount | price reduction encouraging buying with cash |
| cost of goods sold | actual cost of a product |
| discounts | price reduction to encourage buying |
| EOM | payment computed from end of month shipped |
| FOB destination | seller pays transportation costs for shipping to destination |
| FOB shipping point | seller pays delivery costs to transportation company |
| inventory turnover rate | number of times in a year business sells average inventory |
| invoice | vendor form listing goods shipped, price and terms of sale |
| list price | price from catalogs |
| manufacturer brands | manufacturer's names for variety of products for large market sale |
| margin | difference between selling price and cost of goods sold |
| markdown | amount reduced from selling price before item is sold |
| markup | amount added to cost of product to determine selling price |
| merchandise market | area where several manufacturers are located, displayed, or sold |
| net 30 days | payment is due 30 days from date on invoice. |
| net profit | selling price minus all business expenses |
| operating expenses | costs of running a business |
| packing list | form listing contents being shipped |
| private brands | brand names by an individual business for sale to customers |
| purchase order | form listing merchandise ordered from supplier |
| purchase requisitions | form requesting purchasing department to buy items |
| purchasing agent | person in charge of purchasing |
| quantity discount | price reduction to encourage buying large amounts |
| seasonal discount | price reduction to encourage buying before normal buying period |
| selling price | price paid by customer |
| trade discount | price reduction for performing certain wholesaler or retailer duties |
| vendor | a company from which goods are ordered |
