Margin Calculation. Gross margin will be defined as the net revenue of the sale of products less the cost of goods sold for those products: Net revenue shall be defined as the gross revenue on the sale of all products less any discounts, applicable promotions, merchandise incentive program discounts or other programs that reduce the cost of the product to the customer. Shipping and sales tax are excluded from the calculation. Cost of Goods shall be defined as the cost of the product to ▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, as charged by our 3/rd/ party fulfillment partner. These costs consist of the purchase cost from the product manufacturer plus handling and fulfillment fees incurred by our fulfillment partner. Additionally, royalties to the content providers of proprietary ▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ products (the Children's Skills Test line) shall be an additional cost of goods on those items only. Freight-out costs are excluded from the calculation.
Appears in 3 contracts
Sources: Business Agreement (Smarterkids Com Inc), Business Agreement (Smarterkids Com Inc), Business Agreement (Learningstar Inc)