The sooner you begin saving, the the more time your money has to grow.
Answer:
Technology; recording; book keeping
Explanation:
If the organization comes with the latest technology or modern technology, so it reduces the time, cost, effort, of record keeping and at the same time it also improves the accuracy of the transactions
The recording of the business transactions are recorded in the journal by input, measures the transactions and events
And, while recording the business transactions and events manually or electronically is known as book keeping
Explanation:
The computation of the ending inventory and the beginning inventory is shown below:
Ending inventory is as follows
December = 438,00 units × 5.5 gallons × 15% =
= 36,135 units
January = 41,000× 5.5 gallons × 15%
= 33,825 units
February = 50,250 units × 5.5 gallons × 15%
= 41,457 units
And, the beginning inventory for January is December ending inventory i.e 36,135 units
If we used the retail method to estimate the ending inventory first we get the given of the problem that can be used in solving.
Given
Sales - 200,000
Goods available for sale - 261,000 (cost) & 450,000 (retail)
First, we need to get the cost of retail ratio. the formula is
Cost to Retail ratio= Cost/ Retail
261,000
CRR= ------------- = 0.58
450,000
Next is to get the ending inventory by following this steps
Cost Retail
Cost of Goods Available for Sale $261,000 $450,000
- Sales $200,000
------------------
Ending Inventory $250,000
x Cost to Retail Ratio .58
------------------
Ending Inventory $145,000
So, the estimated ending inventory for the month of July is $145,000.
