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timofeeve [1]
3 years ago
5

On january 1, 2016, pet friendly stores adopted the retail inventory method. inventory transactions at both cost and retail, and

cost indexes for 2016 and 2017 are as follows:
Business
1 answer:
Gnoma [55]3 years ago
5 0

Answer:

The division is done in terms of cost or value and then do the counting.

Merchandise is divided into three groups.

Group A: Corresponds to 20% of items higher in cost or turnover.

Group B: 60% of following products.

Group C: The remaining 20%.

The next step is to decide how often each group will be counted, the frequency will depend on the inventory and warehouse, and several cycle counts per year must be completed to maintain true accuracy.

Sponsored ad

Tips when counting inventory cycles

To consider the seasonality, it is important to have a response of a certain product when it is in season where its sale is high, it is a waste of time and effort to have a product that will not have immediate mobility.

You can choose to count in cycle by department, supplier, type of product, the brand, among others, depends on personal criteria and what makes the most sense for the business. Regardless of the method, the key is to maintain a certain order, establish a systematic procedure, organize and document it, to avoid errors.

Implement the use of tools that allow greater efficiency and allow to quickly detect problems, use an inventory management software for this work.

Reorganize the physical space properly to implement true inventory control. This involves organizing the items on shelves, establishing an order and site for each product in addition to the corresponding labeling.

Keep up to date, restocking, timely handling of reserve material.

It is important to keep track of purchase orders in system and physical.

Count the products, double check the numbers and keep the system up to date.

After counting, the records should be reviewed, adjusted and determined the course of the actions to come.

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TwitterMe, Inc., is a new company and currently has negative earnings. The company’s sales are $1,500,000 and there are 135,000
Masteriza [31]

Answer:

(a) $61.11

(b) $54.44

Explanation:

1)

Value of Stock = Benchmark price-sales ratio × Stock's sales

                          =  5.5 × 1,500,000

                         = $8,250,000

Thus,

Price of stock = Value of Stock ÷ shares outstanding

                       = 8,250,000 ÷ 135,000

                       = $61.11

Thus, I would pay $61.11 for the stock.

2)

Value of Stock = Benchmark price-sales ratio × Stock's sales

                          =  4.9 × 1,500,000

                         = $7,350,000

Thus,

Price of stock = Value of Stock ÷ shares outstanding

                       = $7,350,000 ÷ 135,000

                       = $54.44

Thus, I would pay $54.44 for the stock.

7 0
3 years ago
Baldwin Company incurred and recorded an expense for material costs that have not yet been paid as of year-end. On the balance s
Tema [17]

Answer:

It will be reported as accrued expenses (c)

Explanation:

Accrued expenses represents amount owed for either serviced that has been enjoyed or goods that have been delivered but yet to be paid for.

Income statement is prepared on accrual basis, hence, these expenses will be recognized in the current period and matched with revenues generated.

4 0
3 years ago
The payroll register of Seaside Architecture Company indicates $820 of social security and $224 of Medicare tax withheld on tota
Sergio [31]

Answer:

The payroll tax expense is $1754.20

Explanation:

7 0
3 years ago
Which of the following layouts seeks the best personnel and machine utilization in repetitive or continuous​ production? A. ​Pro
Nat2105 [25]

Answer: Product-oriented layout

Explanation: The product-oriented layout is a production procedure where the materials and tools are located at the assembly lines.

This layout reduces the cost and time used in the handling of machines whereby optimizing the use of space. The product-oriented layout is mostly used when the same products are made without differences.

5 0
3 years ago
Both Nadia and Samantha are applying to insure their car against theft. Nadia lives in a secure neighborhood, where the probabil
Sergio039 [100]

Answer:

Option B

Explanation:

Both Nadia and Samantha have insured their cars and willing to pay $100 over the expected loss for insurance. If the car is stolen the company would pay expected loss and would earn nothing and if the car is not stolen the company would not be liable for any loss and would earn $200, Therefore the company would earn between $0 and $200.

3 0
3 years ago
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