Fifth Column — "Goods Returned to Manufacturers."
Sometimes there is occasion to return merchandise after it has been put into stock. In such cases, the money value of the articles sent back to manufacturers or jobbers should be entered in this column. This does not mean such goods as were returned on the day received, and were deducted from the seller's invoice, and at no time have appeared in the second column, "New Goods Added to Stock," but only to such merchandise as was originally entered in the second column, and later returned to the manufacturer. This column should be totaled every week and every month.
Sixth Column — "Goods Sold, Less Goods Returned."
Enter here total of selling prices on sales tags for each day, after deducting amount in the third column. Total this column every week and every month.
Seventh Column — "Cost of Goods Sold, Less Cost of Goods Returned."
The total of the sales extended at cost prices for each day, minus the amount showing in the fourth column, should be entered in this column. It should be totaled every week and every month.
Eighth Column — "Gross Profits."
To arrive at the figures to be entered in this column deduct the amount in the seventh column from the amount in the sixth column. Total this column every week and every month.
Ninth Column — "Per Cent to Sales."
This percentage should be figured every day, and every week and every month, and is arrived at by dividing the figures in the eighth column by the figures in the sixth column. It will pay you to watch this column closely. You will be astonished at the way it varies from day to day, week to week, and month to month. If you watch it closely enough, you will soon learn a great deal more about your business than you ever knew before. You do not need to total this column.
Tenth Column — "Accounts Receivable."
On the day the Daily Exhibit is first started, the figures for this column must be taken from whatever records you have kept in the past. Do not total this column.
Eleventh Column — "Collections."
Every day you collect any money from those customers who run charge accounts with you, enter the amount collected in this column. Total it every week and every month.
Twelfth Column — "Cash Sales."
Every day enter the amount of cash sales in this column, and total it every week and every month.
Thirteenth Column — "Charge Sales."
The amount of daily sales made to those customers who do not pay cash but run a charge account should be entered in this column. Every week and every month this column should be totaled.
General Calculations.
To arrive at the amount of "Merchandise on Hand" after the first day, which is, as has been previously explained, an actual physical inventory, add the amounts showing in the first and second columns, and deduct from this total the sum of the fifth and seventh columns. Enter this result in the first column for the next succeeding day. Continue as above throughout the entire month.