Answer: Option A
Explanation: Vendor managed inventory refers to a framework in which the buyer let the vendor to take full responsibility to maintain the inventory level as per the buyer's consumption. Under this, the buyer provided the complete information to thew vendor.
Forward inventory placement refers to placing the inventory closer to the customer.
Hence from the above we can conclude that vendor management will bring the inventory closer to the customer.
It’s at its peak in the business cycle
Explanation:
family is the answer right answer.
Answer:
Inventory Dr.$5,540
Accounts Payable Cr.$5,540
(To record purchase of inventory from crane company credit basis)
No Entry for $3,390 as it is purchase cost of Crane and we are doing accounting entries for Larkspur Company not crane company.
Accounts Payable Dr.$670
Inventory Cr.$670
(To record purchase return)
No Entry is required for scrap value i.e $360 as we are returning the goods to seller not selling the said goods in open market.
Explanation:
Perpetual inventory takes care of bookkeeping more often by recording sales and purchase transaction as and when transaction occurs.
No entry is required for cost of purchase of crane company as we are doing accounting for larkspur company not crane company.Further scrap value is irrelevant when inventory is to be returned to crane company. If we had to sale the same inventory rather then returning the goods to crane then only we had to account for scrap value.
A set of formalized rules and standards that describes what a company expects of its employees is called a code of ethics.
<h3>What is Ethics?</h3>
This refers to the code of rules that guides the behavior and actions of a person, both individually and within a group.
Hence, we can see that A set of formalized rules and standards that describes what a company expects of its employees is called a code of ethics.
Read more about code of ethics here:
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