Use the Information Below to Answer the Following Questions That

question 60

Multiple Choice

Use the information below to answer the following questions that refer to Table B-1. Based on the information in Table B-1, and given that the stockturn rate is 10, the cost of sales is:
$$\begin{array} { l c } { \text { Table B-1 } } \\\text { Gross sales } & \$ 650,000 \\\text { Returns } & \$ 40,000 \\\text { Allowances } & \$ 10,000 \\\text { Markdowns } & \$ 20,000 \\\text { Beginning inventory } & \$ 50,000 \\\text { Ending inventory } & \$ 30,000 \\\text { Expenses } & 25 \% \\\text { Stockturn rate } & 10 \\\text { Investment } & \$ 250,000\end{array}$$

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Definitions:

Sales Presentation

A method employed to convey the advantages and unique features of a product or service to potential customers, aiming to influence their purchase decision.

True Objections

Genuine concerns or hesitations expressed by a potential customer that need to be addressed by a salesperson to move forward with a sale.

Psychological

Pertaining to the mind or mental processes, especially in relation to behavior and feelings.

No-need Objection

A type of resistance from potential customers who believe that they do not require the product or service being offered.