Refiguring Contracts
When item list prices and dealer costs change (usually at quarter end or from vendor pricing updates), you should also update the corresponding consumer price, gross profit percentage, and discount percentage on contracts. This video shows you 1) how to properly set the figure type on a contract to keep the consumer price constant, and 2) how to refigure the new gross profit based on updated cost of inventory, and the new discount based on the current list price.
See also: Refiguring Contracts in (ET) To Protect Margins (pdf)
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