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-'0,^6 1' SUMMARY 



A survey was made of practically all the retail stores in New Hamp- 

 shire which were selling feed and grain during 1926. Reports were 

 collected from 197 stores. Following this, detailed accounts were ob- 

 tained from 41 stores for the business transacted during 1928. 



The state survey sliowed 15 per cent of the feed and grain sold at 

 the car door, 62% at the store and 23% delivered to customers. The 

 average gross margin was $4.71 per ton for 138 stores and 11.29% 

 of sales for 33 stores. (Table 1). 



The business of the 41 gi-ain stores amounted to $4,539,018. during 

 1928 and was transacted on a gross margin of 11.22% of sales. The 

 total costs were 10.76%, a net profit of .46% of sales. Total costs 

 were proportioned under four heads as follows: fixed costs 24.63%, 

 labor costs 51.70%, delivery costs 8.63%, and other costs 15.04%. 



The average investment turnover in relation to sales was 4.04 times. 

 As the number of turnovers increase an average of l^o times fixed 

 costs decreased $.02 per dollar of sales. (Table 6). 



The number of employees per store averaged 3.7 persons. As year- 

 ly sales per man increased from less than $20,000 to $60,000, labor 

 costs decreased $.023, total costs $.061 and gross margins $.043 per 

 dollar of sales. (Table 10). 



It was found in five stores that the employees were busy 82.9% of 

 the total time during one week. Sales per hour of occupied time for 

 all stores varied from $8.06 to $20.04 with an average of $10.52. The 

 ones operated by one man had a higher average sales per hour of 

 occupied time than those operated by 3 or more people. (Table 11). 



The average inventory turnover was 10.2 times. As the number of 

 turnovers increased an average of 3 times, total costs decreased $.017 

 per dollar of sales. 



An average of $870,521. was carried in accounts and notes receiv- 

 able by 89 of the grain stores in the state. The average turnover of 

 accounts receivable was 38 days. Bad debts ranged from none up to 

 $4000. per store. 



When weekly retail cash store prices are compared for 62 stores 

 for grain and feeds of the same standard or brand, a great range in 

 prices is found. The largest range is $.65 per cwt. for wheat and the 

 smallest $.30 per c\\i. for middlings. (Table 19). 



Although the Boston wholesale market changed 40 times on a week- 

 ly basis during the year, the stores shifted prices 14.5 times. Store 

 prices lagged an average of 2.6 weeks as upward market changes oc- 

 curred and 4.8 weeks when they were downward. 



Higher retail cash prices are charged for corn as the percentage of 

 credit sales increase. (Table 21). 



