| A | B |
|---|
| Cash Sale | A transaction in which the customer pays for the purchase with cash or check. |
| Change Fund | Coins and currency designated for use in opening the register for a givenday's activity. |
| Cost | The amount a retailer pays the supplier for an item for resale. |
| Denominator | The bottom number in the mathematical expression written as a fraction. |
| Employee Discount | A set reduction in retail price given to an employee at the time of a sales transaction. |
| Extension | The result of multiplying the number of units by the cost per unit |
| Final Selling Price | The price at which the merchandise ultimately sells after all markups and/or markdowns are taken. |
| Gross Profit | Sales revenue minus cost of merchandise sold. |
| Gross Sales | Total revenue from sales before considering returns, allowances, or adjustments. |
| Initial Markup | The difference between merchandise cost and the selling price originally laced on the merchandise. |
| Keystone Markup | A markup that is equal to the cost of the merchandise |
| Keystoning | Doubling the cost of the merchandise to arrve at the retail price. |
| Maintained Markup | The difference between the total cost of the merchandise and its final selling price. |
| Markdown | A strategy used to stimulate sales, dispose of slow moving/discounted merchandise, meet competitor' prices, and increase customer traffic. |
| Markup | An amount added to the cost of goods to reach a selling price. |
| Net Profit | Gross profit minus total operating expenses. |
| Net Sales | The revenue generated from sales minus sales returns and allowances. |
| Numerator | The top number in a mathematical expression written as a fraction. |
| Retail Price | The sum of cost plus markup; the price the customer pays for the merchandise |
| Sales Income | The revenue generated from sales minus sales returns and allowances. |
| Sales Tax | A government fee, usually a percentage of the total sale, which is added to the retail price of goods and paid by the final user. |
| Till | The cash drawer of a cash register |
