Which of the above diagrams illustrate(s) the effect of a decrease in incomes on the market for secondhand clothing?
Definitions:
Merchandise
Goods that are purchased for the purpose of being sold to customers in the retail or wholesale market.
Periodic Inventory System
An inventory system that updates the inventory balance at specific intervals, necessitating physical counts.
Cost of Merchandise
The total purchase cost of goods that a retailer, wholesaler, or distributor has bought for the purpose of reselling.
Freight In
The cost associated with transporting goods from the supplier to the buyer, typically recorded as part of the inventory cost.
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