Assignment 1- pg 16

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 79 units at $63 10 Sale 63 units 15 Purchase 102 units at $67 20 Sale 57 units 24 Sale 14 units 30 Purchase 21 units at $70 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players Quantity Date Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Goods Cost of Goods Sold Unit Cost Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Nov. 1 Nov. 10 Nov. 000…

How does the Wilson approach adapt to seasonal variations in demand and inventory management?

What is the role of an inventory manager?

U.S. Airfilter has hired you as a supply chain consultant. The company makes air filters for residential heating and air-conditioning systems. These filters are made in a single plant located in Louisville, Kentucky, in the United States. They are distributed to retailers through wholesale centers in 100 locations in the United States, Canada, and Europe. You have collected the following data relating to the value of inventory in the U.S. Airfilter supply chain:   QUARTER 1 (JANUARY THROUGH MARCH) QUARTER 2 (APRIL THROUGH JUNE) QUARTER 3 (JULY THROUGH SEPTEMBER) QUARTER 4 (OCTOBER THROUGH DECEMBER)   All amounts in millions of U.S. dollars Sales (total quarter):         United states 300 350 405 375 Canada 75 60 75 70 Europe 30 33 20 15 Cost of goods sold (total quarter) 280 295 340 350 Raw materials at the Louisville plant (end-of-quarter) 50 40 55 60 Work-in-process and finished goods at the Louisville plant (end-of-quarter) 100 105 120 150 Distribution center…

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Subject:- accounting

Conduct a comprehensive comparative analysis between the Wilson approach and the ABC analysis method for inventory management.

What are 3 potential risks associated with replacing the inventory management system, and how can they be mitigated?

Watergate, Inc. uses a perpetual inventory system. It entered into the following purchases and sales transactions. Use this information to answer the questions that follow. Date Watergate, Inc. Inventory Activities Oct. 1 Beginning Inventory Oct. 5 Purchase Oct. 9 Sale Oct. 18 Purchase Oct. 24 Sale Details 110 units @ $20 50 units @ $22 60 units @ $40 70 units @ $25 55 units @ $40 Question 1 Watergate, Inc.: Assuming FIFO inventory method answer the following: 1. Total cost of goods sold at the end of the period. 2. Ending inventory in dollars not units at the end of the period. 3. Gross profit for the period. Question 2 Watergate, Inc.: Assuming LIFO inventory method answer the following: 1. Total cost of goods sold at the end of the period. 2. Ending inventory in dollars not units at the end of the period. 3. Gross profit for the period.

Analyze how different inventory control systems work.