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8th grade Avg
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New words:
crucial, daily, incredible, largely, media, Reserve, social, sought, Summary, unregistered, Wednesday, wrote
Removed:
delivered, placement, remaining, RX
Financial report summary
?Management Discussion
- We recorded a net loss of $2,238,780 for the three months ended September 30, 2020.
- Revenue. Total revenue for the three months ended September 30, 2020 and 2019 was $2,745,958 and $2,757,158, respectively. The decrease of $11,200, or 0.41%, was due to the incredible performance by our store staff to continue selling through the pandemic during the third quarter. The Company implemented curbside service and other techniques such as new daily specials and social media to continue producing revenues during the difficult time.
- Cost of Goods Sold. Total cost of revenue for the three months ended September 30, 2020 and 2019 was $1,240,586 and $1,431,656, respectively. The decrease of $191,070, or 13.35%, was largely due to new management techniques and methods of purchasing inventory during the third quarter. The inventory cost savings was crucial during the third quarter with new sales techniques during the pandemic. Management sought out new products, new vendors and cost controls to reduce inventory costs.