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Marking Vocab

Chapter 3 Vocab

WordDefinition
Merchandise mix made up of all the products that a business sells.
Product line a group of closely related products that a business sells.
Product items are the products that make up a product line.
buyer purchase goods for resale to the customer.
merchandise plan includes four elements-planned sales, a begginning-of-the-month iventory, planned purchases, and planned reductions such as employee discounts and markdowns.
markup the diffence between the cost of the product and its selling price.
receiving record describes the goods received.
credit memorandum notifies the business that its account with the vendor has been credited for the return.
Created by: FredYugi
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