Being a retailer ain't easy.

That's why we at the boutique hub are going to be coming to you with a new series called

Know Your Numbers.

We're going to get the facts on what is the most important to drive profit, drive cash

in your business, and really have you feel in control over your future.

Numbers are black and white. It's the one thing we record every day,

and we're going to teach you how to make the most of tracking your KPIs and metrics. Let's jump in.

Okay, so as we're going into this Knowing Your Numbers series, I wanted to start us out with a little

ground rules, right?

So we're going to be looking at some formulas, and I'm going to be asking you to know some

metrics to calculate those formulas. So I thought it would be helpful to let you know where you can

find them. Now, everyone has a different POS, so we can't go over each POS individually, but hopefully this will point you in the right direction.

So let's start with on-hand inventory at cost and on-hand inventory at retail.

Now, this should be in your POS under the report section that have to do with inventory. Usually each POS has an

inventory report section. It should show your on-hand inventory at cost and at retail. Now,

what you'll mostly likely see it as is your month-end inventory. So let's say we're in the middle

of May. If you wanted to see your current

on hand, you're probably going to be looking at the inventory from the end of April. That's how

it's tabulated. So in Shopify, for instance, you'll see a month end inventory snapshot, a month

end inventory value report. And you'll also pro tip have an ABC product analysis report,

which will have both your inventory at cost and your inventory at retail right on the first

line of the summary. Okay. So that's how we're going to find those numbers. Your operating expenses, your percentage

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