ATM 285 - Buying and Merchandising Math

Description:
An introduction to the financial management of fashion products; mathematical applications using percentages, mark-ups, profit formulas, pricing principles, tracking inventory, and mathematical formulas used in all levels of apparel operations.

Credits: (4)

Learner Outcomes:
Upon successful completion of this course, the student will be able to:

Define and dissect of the basic sales elements in the buying/selling process
Calculate, analyze, and measure the performance of operating income
Determine and calculate the costs of goods sold when purchasing merchandise
Recognize and calculate the net cost
Identify activities that retailers can use to maximize profits
Understand price lining, pricing strategy, and pricing issues
Calculate markup as dollar amounts and percentages for individual items and groups of items
Establish retail prices
Identify the types of markups and the use of each in making merchandise decisions
Calculate initial markups, cumulative markups, and maintained markups, keeping markups balanced for various situations
Recognize and understand both the dollar amounts and percentages of markup needed to evaluate
Know and understand the retail method of inventory
Identify and describe information and procedures necessary to implement the retail method of inventory
Understand and recognize the elements of a six-month merchandise plan
Recognize the importance of profit calculations in merchandising decisions
Identify components of a profit and loss statement

Learner Outcomes Approval Date:
3/4/2015

Anticipated Course Offering Terms and Locations: