(1)

(A) “Cost to the retailer” means whichever is lower of the following:

(i) The purchase price of the product or commodity to the retailer at the retail outlet when the invoice is dated not more than sixty (60) days prior to the sale of such product or commodity by the retailer; or

(ii) The replacement cost of such product or commodity to the retailer at the time of sale in the quantity last purchased by the retailer;

(B) In all retail sales involving more than one (1) item or commodity, the retailer's price on individual items or commodities shall be computed on the “cost to the retailer” as herein defined;

(C) “Cost to the retailer” in either of the above definitions includes as a part thereof any and all taxes and/or licenses levied against the item or items by the federal, state, county or municipal government;

(D) “Cost to the retailer” must be bona fide cost, and sales to retailers at prices which cannot be justified by existing market conditions within this state shall not be used as a basis for computing costs with respect to sales by retailers;

(2)

(A) “Cost to the wholesaler” means and includes whichever is lower of the following:

(i) The purchase price of the product or commodity to the wholesaler when the invoice is dated not more than sixty (60) days prior to the sale of such product or commodity by the wholesaler; or

(ii) The replacement cost of such product or commodity to the wholesaler at the time of sale in the quantity last purchased by the wholesaler;

(B) In all wholesale sales involving more than one (1) item or commodity, the wholesaler's selling price on individual items or commodities shall be computed on the “cost to wholesaler,” as herein defined;

(C) “Cost to the wholesaler” must be bona fide cost, and sales to wholesalers at prices which cannot be justified by existing market conditions within this state shall not be used as a basis for computing costs with respect to sales by wholesalers;

(3) “Retailer” means and includes every person, partnership, firm, corporation or association engaged in the business of making sales at retail within this state;

(4) “Sale at retail,” “sales at retail” or “retail sale” means and includes any transfer, made in the ordinary course of trade or in the usual prosecution of the seller's business, of title to tangible personal property to the purchaser for use or consumption and for a valuable consideration. “Sale at retail,” “sales at retail” or “retail sale” mean any transfer of such property where title is retained as security for the purchase price but is intended to be transferred later;

(5) “Sale at wholesale,” “sales at wholesale” or “wholesale sales” means and includes any transfer, for a valuable consideration made in the ordinary course of trade or the usual prosecution of the seller's business, of title to tangible personal property to the purchaser for resale either in its original form or as processed or prepared for resale by hotels, cafes, or hospitals or other institutions. “Sale at wholesale,” “sales at wholesale” or “wholesale sales” mean any transfer of such property where title is retained as security for the purchase price but is intended to be transferred later; and

(6) “Wholesaler” means and includes every person, partnership, firm, corporation, or association engaged in the business of making sales at wholesale within this state.