Letter: Minimum wage

March 4, 2014 

The people need to have their wages raised, and all business screams that it is going to raise cost and prices.

That’s wrong; have you people in business heard about turnover of individual’s product, price, accumulated to related to sales, revenue?

The more times you sell a product, for a price, the higher your accumulated sales revenue.

Turnover: that action where the customers return (replace) to the seller the original cost (working capital) plus the markup (operating capital) for the P&L sheet, expenses and value, to derive a profit.

This (cost plus expense plus value) being the price.

By buying the item a number of times within a period of time creates the accumulation of the operating capital as gross profit (sales revenue less cost or working capital).

Sales turnover: a higher rate of turnover of product, price, means number of times your able to sell the goods in market, keeps fresher merchandise, more profitability, and more productive profit and loss sheet, of which equates to a buy more, greater sales revenue, for business, to derive a profit.

A low inventory turnover ratio indicates that your inventory is sitting on your shelves for too long and not selling well.

JOHN W. WEST, Emmett

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