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Sounds like a good idea. You could convert to PDF, then using iAnnotate/Goodreader/ PDF expert ( or any of those sorts of apps,) use the stylus to write on it.
Or there are a bunch of Apps designed for shopping lists that might work equally well?
If you used an app which had an iPhone equivalent, you have the option of making your handwritten notes on the bigger ipad screen, and then just having your phone in hand as you shop.... Presuming you have an iPhone of course! Also a good way to send your list to other staff's phones if you want to delegate the shopping.....