All categories

3 years ago

An advantage of the fixed-period inventory system is that______.

Business

1 answer:

nadya68 [22]3 years ago

8 0

Answer:

The correct answer is (B)

Explanation:

There are various advantages of fixed inventory stock. The fixed-period stock and inventory framework requires more safety stock than a fixed-amount framework. A stock out can happen during the audit time just as during the lead time. A significant advantage of fixed period stock is that, there is no physical check of stock when products are withdrawn.It helps to save time and money.

You might be interested in

According to climate data recorded since 1884, the average annual snowfall in philadelphia is 22.3 inches. this value is an exam

Anvisha [2.4K]

Since 1884, climate records have been kept, and they show that Philadelphia experiences an average yearly snowfall of 22.3 inches. An illustration of descriptive statistics is this value.

<h3>What is descriptive statistics in statistics?</h3>

The fundamental characteristics of a dataset identified in a particular study are described, illustrated, and summarized using descriptive statistics. The summary provides details on the data sample and its measurements. Analysts will understand the data more readily as a result.

<h3>What can we conclude from descriptive statistics?</h3>

The features and value distribution of one or more datasets are summarized using descriptive statistics. The central tendency and degree of value dispersion in datasets can be quickly viewed by analysts using the traditional descriptive statistics.

Learn more about descriptive statistics: brainly.com/question/13335435

#SPJ4

6 0

1 year ago

Since your first birthday, your grandparents have been depositing $ 1 comma 000 into a savings account on every one of your bir

nika2105 [10]

Answer:

The amount of money in my savings account will be closest to $29,213

Explanation:

A fix Payment for a specified period of time is called annuity. The Compounding of these payment on a specified rate is known as Future value of annuity. In this question $1,000 per year payment for 18 years at 6% interest rate is also an annuity.

We can calculate the amount of saving by calculating the future value of the given annuity.

Formula for Future value of annuity is as follow

Future value of annuity = FV = P x ( [ 1 + r ]^n - 1 ) / r

Where

P = Annual payment = $1,000

r = rate of return = 6%

n = number of years = 18 years

Placing Value in the formula

As on the 18th payment no compounding interest income is accrued yet because grandparent made it now.

Future value of annuity = FV = $1,000 + 1,000 x ( [ 1 + 6% ]^18-1 - 1 ) / 6%

Future value of annuity = FV = $1,000 + 1,000 x ( [ 1 + 0.06 ]^17 - 1 ) / 0.06

Future value of annuity = FV = $29,213

3 0

3 years ago

On January 1, 2020, the balance sheet of Naperville Company (a sole proprietorship) was as follows.

guapka [62]

Answer:

Explanation:

From the information povided:

(a) To compute the amount of goodwill paid by Chicago Corporation

Particulars Amount ($)

Accounts Receivable 100000

Inventory 170000

Plant & Equipment 400000

Land 90000

Customer List 4000

Trade Names <u> 16000</u>

NET ASSETS (A) <u>780000</u>

<u />

Current liabilities 76000

Non-current liabilities <u>160000 </u>

NET LIABILITIES (B) <u> 236000</u>

∴

PURCHASE CONSIDERATION (A -B) 544000

GODWILL <u> 36000 </u>

<u />

In the books of Chicago Corporation, the Journal Entry to record the purchase of Naperville Company.

Account Name Dr. Cr.

Accounts Receivable A/C 100000

Inventory A/C 170000

Plant Equipment A/C 400000

Land A/C 90000

Customer List A/C 4000

Trade Names A/C 16000

Goodwill A/C 36000

Current liabilities A/C 76000

Non-Current Liabilities A/C 160000

Cash A/C 580000

The minimum required amount of goodwill that Chicago can amortize by the end of 2020 is $3600.This is because the amortization can take place for a period of 10 years.

<u />

8 0

3 years ago

All of the following are documents used for inventory control except:______.

damaskus [11]

Answer:

c. a petty cash voucher.

Explanation:

For controlling the inventory following documents are to be used i.e.

1. Purchase order

2. Vendor invoice

3. Receiving report