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2 years ago

Under the perpetual inventory system, in addition to making the entry to record a sale, a company would

1 answer:

5 0

Under the perpetual inventory system, in addition to making the entry to record a sale, a company would: a. debit Inventory and credit Cost of Goods Sold.

<h3>What is Inventory ?</h3>

Inventory, also known as stock, refers to the goods and materials that a company keeps for the purpose of resale, production, or use. Inventory management is primarily concerned with specifying the shape and placement of stocked goods.

There are four types of inventory: raw materials/components, work in progress (WIP), finished goods, and maintenance and repair (MRO).

Inventory valuation methods include FIFO (First In, First Out), LIFO (Last In, First Out), and WAC (Weighted Average Cost).

Inventory refers to all of the items, goods, merchandise, and materials held by a company for the purpose of reselling in the market for a profit. For instance, if a newspaper vendor uses a vehicle to deliver newspapers to customers, only the newspaper is considered inventory. The vehicle will be considered an asset.

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The upper management of a large national retail grocery store has passed along the new goals of improving customer service to th

valentina_108 [34]

Answer:

The correct answer will be "Tactical planning".

Explanation:

Tactical scheduling or planning seems to be an essential factor of commercial enterprise which differs significantly from traditional forms of effective decision-making. The phase of tactical preparation occurs in real-time, following the short-term results.
With nothing more than a tactical approach in place, the company will make fast strategies to excel inside that chosen field of work.

So the above seems to be the correct answer.

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3 years ago

What is the problem with companies pursuing patents specifically to hinder, or prevent, competition?

Alekssandra [29.7K]

Answer:According to the article, when companies earn patents specifically to prevent competition, it hinders the innovation of products that might actually be better. For instance, Bruce Nolop describes how his company had to pay more attention to the "minefield of existing patents than on the expected value that we could bring to customers." Rosabeth Moss Kanter suggests a "use it or lose it" solution to this problem. She thinks that a company that patents an item would be forced to use the patented idea or product or risk losing the patent. This idea would encourage more competition and prevent patent abuse.

Explanation:

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3 years ago

Which statement below best describes the accounting equation? Multiple Choice The change in retained earnings equals net income

8_murik_8 [283]

Answer:

The correct answer is Resources of the company equal creditors' and owners' claims to those resources.

Explanation:

It can be used to determine that the income or income of the consumer is exactly equal to the expense (purchase) of goods, for the determined period of consumption. In other words, by adding the value spent on the acquisition of goods "x" and goods "y". To have such values it is enough to multiply the number of possible units to acquire - in each of the points - by their respective price and then add them; This can be done at any point in the price line.

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3 years ago

On July 1, the inventory of at Barnett Shoes was $60,000. Because of anticipated back-to-school sales, the owner wants to have a

AVprozaik [17]

Answer:

required purchase 83,500

Explanation:

The cost of inventory in july sales and our desired ending invenory is the amount we need. the beginning inventory is a portion of this demand already fullfil, we need to purchase for the difference.

cost of inventory sales for July:

70,000 x (1 - 45%) = 38,500

desired ending inventory 105,000

beginning inventory <u> (60,000) </u>

required purchase 83,500

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3 years ago

The gross profit method of inventory valuation is not valid when a. there is substantial increase in the quantity of inventory d

lukranit [14]

Answer:

The gross profit method of inventory valuation is not valid when

c. the gross margin percentage changes significantly during the year.

Explanation:

Gross Profit Method:

It is such method that is used to determine the value of ending inventory in a specific period.

The option a, b and d are valid as this method is used when there is substantial increase in the quantity of inventory or in the cost of the inventory during the year. Moreover, it is also used to calculate the amount of ending inventory that is effected by a disaster such as fire, theft etc.
The option c is not valid because it is not used when the gross margin percentage changes significantly during the year as gross profit method is only used to determine the amount of an ending inventory.

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3 years ago