How Do You Learn Retail Math Concepts?
Retail math can appear intimidating. But you’ll find that it isn’t nearly as difficult as it appears. The process has much more to do with understanding the terms and how they are applied than it does with advanced mathematics. Consider that retail math requires basic math skills, such as addition, subtraction, multiplying and dividing. If you are not comfortable with these skills, find practice sheets online or get a basic math skills book. If you’re having trouble with these skills on your own, find a friend or colleague willing to tutor you. It shouldn’t take long for you to revisit these skills and be ready to apply them to retail formulas. Understand the terms being used in the formulas. As an example, if you see “Stock Sales Ratio = B.O.M. $ Stock / Sales for period,” the math of division is quite simple but it will mean little to you if you do not understand what a stock sales ratio is or that B.O.M. means Beginning of Month. While you may not always understand why certain formu
