One important managerial function is controlling, and the first step in the controlling process consists of

1 answer:

6 0

One important managerial function is controlling, and the first step in the controlling process consists of setting clear performance standards.
The goal of the controlling is to control that standards are met and stated goals of the organization are achieved .
Standards are used to measure the actual performance and are the benchmarks towards which efforts of entire organisation are directed. Some examples of standards are: revenue to be earned, cost to be incurred., improved motivation, improved quality of products,..

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Answer:

The beginning inventory was $2000.

Explanation:

First, we need to calculate the Cost of Goods sold. The cost of Goods sold is the difference between the Sales and the gross profit. Thus, the cost of goods sold is 16000 - 10000 = $6000

The value of the beginning inventory for the period can be calculated by using the Cost of Goods sold formula. The cost of goods sold is calculated as:

Cost of goods sold = Beginning inventory + Purchases - Closing Inventory

Plugging in the available figures in the formula,

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6000 = Beginning inventory + 4000

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Well this may not be me answering it but this guy is a lot of help tho

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