How is math used in owning a sports store?

Answer 1

• You have to add up the money when people buy something.
• At the end of the day, you need to add the money in the cash register.
• Calculating the bills to pay every month - rent, electricity, etc.
• When items go on sale, you have to work out percentages.
• Predict when and how much inventory to order.

There are many other ways in which math is necessary when one owns a sports store. Some of them are; you have to be able to know how to do mark up/mark down reports on sales, keep records for taxes, work up payroll and overtime, do quarterly tax reports, keep a proper inventory on all items, maintain proper building and contents insurance, write up expense reports, and reconcile the bank statements.

You also have to maintain accounts receivable and Accounts Payable records, which are running totals of how much you owe your vendors (suppliers) and how much is owed to you from sales which are charged. And at the end of each business day you have to do a sales report, which is a record of how much is sold in each department. Those sales have to match up with what the cash registers print out for the day's sales, so the math has to be extremely accurate.