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3 years ago

What is the difference between ancient trade and modern trade

Business

1 answer:

alexira [117]3 years ago

6 0

Answer:

The main difference between traditional trade and modern trade is that, distribution in modern trade is more organized. Retailers often deal directly with manufacturers. Many large retail chains have integrated their services to offer their own brands in groceries and other goods.

Explanation:

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example below

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Forever Jewelers uses the perpetual inventory system. On Aprilâ€‹ 2, Forever sold merchandise with a cost of $ 1 comma 500$1,500

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Answer:

Accounts Receivable $8,820

To Sales Revenue $8,820

Explanation:

The journal entry to record the sales revenue is shown below:

Accounts receivable A/c Dr $8,820

To Sales revenue A/c $8,820

(Being merchandise sold on credit basis)

For recording this we debited the account receivable as it increased the assets and credited the sales revenue as it also increased the revenue

The computation of sales revenue is shown below:

= Sales revenue - discount

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= $9,000 - $180

= $8,820

This is the answer but the same is not provided in the given options

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2 years ago

Blossom Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at co

horsena [70]

Answer:

$1,012,696

Explanation:

The computation is shown below:

At Cost method:

Merchandise available for sale is :

= Beginning inventory + Purchases + Fright-in

= $403,500 + $3,608,000 + $169,500

= $4,181,000

At Retail method:

Merchandise available for sale:

= Beginning inventory + Purchases + Markups

= $604,000 + $5,393,600 + $424,000

= $6,421,600

Now

Ending inventory at retail is

= Retail - Markdowns - Net sales

= $6,421,600 - $0 - $4,866,000

= $1,555,600

Now

Cost to retail ratio is

= $4,181,000÷ ($4,866,000 + $1,555,600)

= 65.10%

And finally the ending inventory at cost is

= $1,555,600 × 65.10%

= $1,012,696

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3 years ago

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What is the difference between ancient trade and modern trade ​

What is the difference between ancient trade and modern trade