What is the primary purpose of an invoice in retail transactions?

The primary purpose of an invoice in retail transactions is to serve as a written statement of a sale transaction. An invoice provides a detailed record of the items purchased, the quantities, the prices, applicable taxes, and the total amount due. This document acts as a confirmation of the sale between the buyer and the seller and includes essential information that can later be used for accounting and inventory purposes.

By having an invoice, customers have proof of their purchase, which can be important for returns or warranty claims, while retailers use invoices to keep track of sales and manage financial records accurately. An invoice also helps establish clear communication regarding what was sold and the agreed-upon terms of the sale.

In contrast, the other options offered do not accurately describe the function of an invoice. Market trends provide insights into broader industry behaviors rather than transaction specifics. Financial reports are typically broader and used for overall performance assessments rather than individual transactions. Promotional documents focus on marketing efforts to encourage future sales rather than documenting completed transactions.