Buys surfboards, wetsuits, and surf wax from rip to shreds, inc. for sale to consumers. The type of company is surf shack corp is a retail merchandiser.
Merchandising is any practice that contributes to the sale of products to retail consumers. At the retail level, merchandising refers to the presentation of products that are sold in creative ways that induce customers to purchase more items or products.
Retail store clerks are responsible for ensuring that appropriate quantities of merchandise are available in stores and sold at appropriate prices. Clever planning, careful purchases, and smart advertising campaigns can increase your profits.
Merchandisers keep merchandise on retail shelves and present it appropriately to customers. They also track inventory levels, report problems and shortages to management, and clean up unwanted items for blatant violations of store decor.
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Answer:
Annual cost = −64,083
Explanation:
Present maintenance costs = $180000
Maintenance costs after three years = $70000
Real interest rate = 9%
Inflation rate = 3%
Inflation adjusted interest rate, r = 0.09 + 0.03 + (0.09)(0.03) = 12.27% per year
Annual cost = −180,000(A/P,12.27%,5) –70,000(P/F,12.27%,3)(A/P,12.27%,5)
Annual cost = −180,000(0.27927)–70,000(0.70666)(0.27927)
Annual cost = −64,083
Based on the <u>specific identification inventory method</u>, the cost of goods sold would equal $65 ($30 + $35) and not $75 as indicated in the question.
Specific identification is an inventory costing method that tracks the cost of goods to the exact items that are sold. This method is used where it is possible to track sold items individually, especially when the sold items are separately identifiable.
Specific identification is just one method in inventory costing. Others are <em>Last-in, First-out (LIFO), First-in, First-out (FIFO), and Weighted-Average Cost Methods.</em>
Thus, the inventory method that will produce the cost of goods sold under this scenario is the specific identification method.
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