Under the perpetual inventory system, when a wholesaler returns goods purchased on account, the <u>Merchandise Inventory</u> account is credited.
Merchandise inventory incorporates the goods that outlets and resellers have purchased with the rationale to promote to clients. products stock is categorized as a current asset on the organization's balance sheet. For some stores, it is their biggest asset.
Let's consider a fixtures shop buys desks with the intention to be bought immediately to the give up a customer. The store additionally buys computers for personnel to apply frequently. here, the desks may be categorized as products stock, but no longer the computers.
Inside accounting, products are taken into consideration as present-day assets because it's commonly anticipated to be liquidated (sold, become cash) within a yr. while bought, merchandise should be debited to the inventory account and credited to cash or accounts payable, depending on how the products were paid for.
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Answer:
Production for January 368,100
Explanation:
January Production:
sales requirement 320,000
desired ending inventory 35% of next month sales
35% of february sales
35% of 315,000 = 110,250
Total needs 430,250
beginning Inventory (62,150)
Production for January 368,100
Desired ending + sales is the amount we need to cover for january
the beginning inventory are work already done to reach this need, so we subtract it.
Since the expansion that followed the War of 1812 was more of an ongoing evolution than a sudden revolution, Daniel Walker Howe avoids using the term "Market Revolution" and there is evidence that a market economy already existed and had been established in the American colonies in the 18th century.
Since communication significantly improved starting around 1815 compared to earlier decades, he advocates using the term "communication revolution" to describe the early nineteenth century.
Finally, retorts Howe, the revolution that really mattered was the "communications revolution": the invention of the telegraph, the expansion of the postal system, improvements in printing technology, and the growth of the newspaper, magazine, and book-publishing industries, and the improvements in higher-speed transportation. Howe responds that the "communications revolution," which included the development of the telegraph, the expansion of the postal service, advancements in printing technology, the expansion of the newspaper, magazine, and book publishing industries, as well as the development of faster transportation, was the revolution that truly mattered.
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