The Two Types of Extreme Value Retailers Are

question 13

Multiple Choice

The two types of extreme value retailers are

• A)off-price retailers and discount stores.
• B)factory outlets and closeout chains.
• C)dollar discount stores and closeout chains.
• D)penny retailers and off-price retailers.
• E)dollar discount stores and convenience stores.

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Definitions:

Inventory Turnover

A metric that measures the number of times a company sells and replaces its stock of goods during a certain period.

Lower of Cost

This accounting principle requires that the inventory or stock should be reported at the lower of its cost or the market value.

Market Method

An appraisal technique used to determine the value of an asset based on the current market price of comparable assets.

Replacement Cost

The cost to replace an asset with another of similar kind and quality at current prices, often considered in insurance assessment and accounting.