You have the following information for Blue Spruce Corp. for the month ended October 31, 2022. Blue Spruce uses a periodic metho
d for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 50 $22Oct. 9 Purchase 125 24Oct. 11 Sale 90 45Oct. 17 Purchase 90 25Oct. 22 Sale 50 50Oct. 25 Purchase 60 27Oct. 29 Sale 100 50Calclate the wheighted average cost.
A <u>finished Goods</u> account would most likely not appear in a job order cost system of a service business.
Finished Goods are products that are at a stage in the manufacturing process that is readily available to consumers. Businesses use formulas to calculate finished goods and products to create inventory percentages that determine the value of the goods sold.
The cost of the finished product includes all costs along the way and includes the three main components used in the production of the goods: direct labor, direct materials, and overhead costs. In addition, storage costs will be incurred when purchasing finished products.
Compromising—when you compromise or “split the difference” in a conflict which is the political equivalent of "win some, lose some" and is possible in a long-term relationship where there is time for give-and-take exchange.
The complementary goods are those goods which are used together while on the other hand the substitute goods are those goods that are used in place of one another
Strategic planning is usually a long-term process. The process involves carrying out a situation analysis and formulating the company's objectives, mission statement, strategies and value prepositions. A situation analysis involves evaluating the organization's external environment (factors outside a firm's control) and internal environment (factors a firm can control).
