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2 years ago

A store that has very limited inventory commonly uses what type of inventory method ?

Business

1 answer:

faltersainse [42]2 years ago

3 0

RETAIL INVENTORY METHOD SHOULD BE USED BY A STORE .

Explanation:

The retail inventory method is an accounting method used to estimate the value of a store's merchandise. The retail method provides the ending inventory balance for a store by measuring the cost of inventory relative to the price of the merchandise. Along with sales and inventory for a period, the retail inventory method uses the cost-to-retail ratio.

Periodic counts might be once every two months or every three weeks, depending on warehouse size and company needs. This will create better visibility than yearly or seasonal options but it also requires more time and manpower. Workers must ensure they are performing inventory consistently between each count.

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1. The purpose of preparing a direct materials budget is to ________. a. allocate the cost of raw materials to production depart

worty [1.4K]

Answer:

1. Option c is correct option.

2. Option b is correct option.

Explanation:

Part 1. Direct material budget is prepared for estimating the quantity of raw materials to be purchased. Following is the formula used for the computation of direct material budget:

D. Raw Material required to be purchased = Raw Material required for production + Desired closing Raw material for the last year - Opening Raw Material

Part 2. The desired ending raw material inventory for the last period.

And this is evident from the formula in the part 1 which tells that the desired closing raw material is that of the last year.

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2 years ago

Government survey takers determine that typical family expenditures each month in the year designated as the base year are as fo

valentina_108 [34]

Answer:

CPI = NEW PRICE / OLD PRICE = 776 / 760 = 1.02

INFLATION = CPI / OLD PRICE x 100 = 1.02 / 760 x 100 = 0.13%

Explanation:

Government survey takers determine that typical family expenditures each month in the year designated as the base year are as follows:

• 25 pizzas, $10 each •

Apartment rent, $600 per month

• Gasoline and car maintenance, $100 per month

• Phone service (basic service plus 10 long-distance calls), $50 per month In the year following the base year,

the survey takers determine that pizzas have risen to $11 each, apartment rent is $610, gasoline and maintenance costs are $115, and phone service has dropped in price to $40.a. Find the CPI in the subsequent year and the rate of inflation between the base year and the subsequent year.

ITEM OLD PRICE NEW PRICE

pizzas, $10 $11

Apartment rent, $600 $610

Gasoline $100 $115

Phone service $50 $40

TOTAL. 760 776

CPI = NEW PRICE / OLD PRICE = 776 / 760 = 1.02

INFLATION = CPI / OLD PRICE x 100 = 1.02 / 760 x 100 = 0.13%

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2 years ago

On October 1, 2020 Bonita Industries issued 5%, 10-year bonds with a face value of $8090000 at 103. Interest is paid on October

V125BC [204]

Answer:

a credit of $242700 to Premium on Bonds Payable

Explanation:

Based on the information given The journal entry to record the issuance of the bonds would include a credit of $242700 to Premium on Bonds Payable which is calculated as:

Premium on Bonds Payable=[($8090000*103%)-$8090000

Premium on Bonds Payable=8,332,700-$8090000

Premium on Bonds Payable=$242700

Therefore The entry to record the issuance of the bonds would include a credit of $242700 to Premium on Bonds Payable

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2 years ago

Making a prediction today about the world's population in twenty years based on current growth trends is an example of ▼ normat

iragen [17]

Answer: Positive, Normative

Explanation: Positive economics is based on facts and objects that can be verified. While, normative economics is based on value based judgement that are difficult to verify.

Making a prediction today about the world's population in twenty years based on current growth trends is an example of positive economics.

Advising the residents of a town to choose a toll road over a freeway extension due to a limited budget and high trucking usage is an example of normative economics.

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2 years ago

What is a motive?

AnnZ [28]

A) a motive is a reason you do something. In business it'd be, for example, profit motive. Your motive is the amount in the profit

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2 years ago

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