Rise Up Unit 5 Vocabulary

Front

Revenue

Back

The income from sales of products or services

Front

COGS

Back

The cost of goods sold; what you pay for what you sell

Front

Gross Profit

Back

The difference between revenue and the cost of goods sold

Front

Operating Expenses

Back

The costs involved in operating a business, such as rent, utilities, and salaries

Front

Net Profit

Back

The amount left after operating expenses are subtracted from the gross profit

Front

Profit Margin

Back

The difference between the retail price of a product and the price the retailer paid for it

Front

Item Cost

Back

The amount of money paid by a retailer to the manufacturer or supplier of an item

Front

Item Retail

Back

The amount that a customer pays a retailer for a product

Front

Markup

Back

The amount of money that a retailer adds to its cost of a product to cover expenses and provide a profit

Front

Markdown

Back

A reduction to the original selling price, done to encourage rapid sales