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kvv77 [185]
3 years ago
6

Triple Creek Hardware Store currently uses a periodic inventory system. Kevin Carlton, the owner, is considering the purchase of

a computer system that would make it feasible to switch to a perpetual inventory system.Kevin is unhappy with the periodic inventory system because it does not provide timely information on inventory levels. Kevin has noticed on several occasions that the store runs out of good-selling items, while too many poor-selling items are on hand.Kevin is also concerned about lost sales while a physical inventory is being taken. Triple Creek Hardware currently takes a physical inventory twice a year. To minimize distractions, the store is closed on the day inventory is taken. Kevin believes that closing the store is the only way to get an accurate inventory count.Icon Will switching to a perpetual inventory system strengthen Triple Creek Hardware’s control over inventory items? Will switching to a perpetual inventory system eliminate the need for a physical inventory count? Explain.
Business
2 answers:
Gemiola [76]3 years ago
7 0

Answer:

Yes, switching to a perpetual inventory system strengthen Triple Creek Hardware’s control over inventory items.

No, switching to a perpetual inventory system will not eliminate the need for a physical inventory count

Explanation:

<em>Perpetual Method</em>

Perpetual Method is the method of recalculating the value of goods held after each transaction.

This will  strengthen Triple Creek Hardware’s control over inventory items as high detail of purchase and sale of goods is maintained.

<em>Physical Count</em>

Goods stolen and damaged do not get scanned and noticed by perpetual method, thus a physical count is necessary and important over and above the perpetual method.

marin [14]3 years ago
3 0

Answer:

Will switching to a perpetual inventory system strengthen Triple Creek Hardware’s control over inventory items?

  • Yes, a perpetual inventory system provides updated information about inventory levels and costs. Since it is updated immediately, many of the company's problems could be solved, e.g. you can place an alert for minimum inventory levels on certain products and you can determine if the stocks of low sellers are too high.

Will switching to a perpetual inventory system eliminate the need for a physical inventory count?

  • It will not completely eliminate the need to carry out a physical inventory, but it should reduce it substantially. Also, you can carry out a random physical inventory for certain products only. If the physical count shows that there are problems with the registered inventory, then you can carry out a complete physical count.

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Ganezh [65]

Answer:

The answer is letter C, Broker.

Explanation:

In order to know whether Karen's company is a broker. It would be best to define what "Broker" is.

In business, <em>"broker" is defined as a person or a company who acts as a mediator between a buyer and a seller. As an agent, the broker gets commission in every business transaction. He can also represents himself as the buyer or the seller. At this point, he also gets a certain commission. </em>In the situation above, Karen arranges the transaction between the growers and processors of cranberries. At this point, she is acting as a seller and a buyer. She does this on behalf of the other firms. Thus, the answer is letter C, Broker.

<u>Additional Information</u>

Sales Agent- a self-employed salesperson who usually works alone. He obtains orders for companies and receives commission on those orders.

Commission Merchant- a person who buys and sells products. He receives commission for the sales price.

Sales Branch- an independent business which purchases merchandise in bulk from manufacturers. He then processes it and redistributes it to retailers.

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6 0
3 years ago
A steel manufacturing firm with about 1,000 employees operates in an environment that is simple and integrated (it makes a small
WINSTONCH [101]

Answer:

Organic structure.

Explanation:

Organic structure: It is defined as flat organizational structure as it does not follow normal hierarchical structure, it is more of a decentralized structure with a lesser layer of management at every level, where more information is shared among employee and each department co-operate with other departments, which helps the organization to adapt well with the changes. Employees have the opportunity to participate in the decision-making process of the organization.

In the given case, Steel manufacturing firm are following an environment that is simple and integrated but also dynamic and hostile, which is a perfect organic structure.

4 0
3 years ago
In understanding and analyzing "market demand," we focus on how much all buyers are
Vikki [24]
<span>We look at how much all buyers want to buy and are willing to do so. If buyers are not wanting to purchase a certain product, the overall demand will go down, and the reverse is true when buyers are positive toward a product.</span>
6 0
3 years ago
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kiruha [24]

Answer:

B. 21.8%

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therefore, in the given instance we have,

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Thus correct option is

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6 0
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A customer sells your company a defective part. The part is put into your product, rendering it defective. What will most likely
Lostsunrise [7]

Answer: Your customer will likely blame you for the defect, not the supplier.

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