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question 56

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Fats are

Understand the strategies used by retailers to attract specific market segments.
Learn about the operational aspects of off-price and discount retailing.
Recognize the importance and methods of customer segmentation in retail.
Understand omnichannel retailing and the use of technology in personalizing customer experiences.

Definitions:

Balance Sheet

A statement, as of a particular date, that shows the amount of assets owned by a business as well as the amount of claims (liabilities and owner’s equity) against these assets. Also known as statement of financial position.

Cost Of Goods Manufactured

The total production cost of goods that were completed during a specific period, including materials, labor, and overhead.

Raw Materials Inventory

Refers to the total cost of all the materials that are used in the production of goods but have not yet been transformed into finished products.

Work-In-Process Inventory

Inventory that includes goods partially completed but not yet ready for sale; found between raw materials and finished goods stages.

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