Your firm's last three years of sales have been $1 million, $2 million, and $3 million (oldest to most recent). Year-end invento
ry was $250k, $500k, and $750k respectively. You are considering purchasing an inventory system that will double your inventory turnover. Which of the following is a good estimate for the amount you'll save with regard to inventory investment next year, assuming your sales will be $4 million - i.e., what's the difference between your estimates of inventory with the system and without? (Assume that your costs of goods sold stay at a constant percentage of sales throughout the past three years and next year; use same-year CoGS/Inv as your inventory turnover formula.)
These checks are said to be quaranteed and issued in the bank by the banking institute. It contains the name of the receiver receipiant which has been inscribed in the check by the banking institute or credit union attached to the receiver also with the amount of money written on it. This amount written on it is known to be the withdrawable amount.
The cashier's check can be sent out in form of a letter, fax or even a mail to the intended persons or organisation making the withdrawal.
Here, monies which are been orders are easily secured by use of a cashier’s checks.
