Gross Rings Method definition
Gross Rings Method. Agent and Merchant shall jointly keep a strict count of gross register receipts for each item of Merchandise sold less applicable Sales Taxes but excluding any prevailing Sale discounts offered by Agent (“Gross Rings”).
Examples of Gross Rings Method in a sentence
Sales of each item and the cost of each item will be determined by the Gross Rings Method, provided that cost shall be determined on the basis of 101% of aggregate cost to account for shrinkage.