What are the major issues that a buyer discusses during a meeting with a vendor?
What will be an ideal response?
(1) Buyers will discuss price and gross margin where they will want the lowest price so they can have the higher gross margin. (2) The buyer will discuss additional markup opportunities where the buyer will need to consider taking excess merchandise, but will also need to consider the image of the store. (3) Terms of the purchase are discussed where the buyer will prefer a long time period in which to pay for the merchandise to assist the company's cash flow, accounts payable, and its interest expense. (4) The buyer will discuss delivery and exclusivity where the buyer will want to be the only retailer in a market carrying the merchandise, and the buyer will also want the merchandise as early as possible in the season. (5) The buyer might ask for sharing the cost of advertising. (6) The buyer will want to discuss the costs of transporting the merchandise as this can be a large expense.
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List at least three nontax reasons that you might suggest to your client Chan that she should consider shifting some income and assets to a trust.
What will be an ideal response?
Consider the following three product costing alternatives: process costing, job order costing, and standard costing. Which of these can be used in conjunction with variable costing?
a. job order costing b. standard costing c. process costing d. all of them
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What are consumers likely to do if they perceive an inexpensive brand to have about the same quality as a premium brand?
What will be an ideal response?