a) Discuss four different forms of inventory that can be held by a retail firms and how they differ from those held by manufacturing firms with respect to type and level. (12 marks) b) Evaluate the effectiveness of any four inventory management techniques in maintaining the right levels of inventories. (13 marks)

Based on the data in Exercise 6-15 part (a) and assuming that cost was determined by the FIFO method, show how the inventory would appear on the balance sheet.

List the five steps followed under the retail method of estimating inventory.

Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO).

Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG).

Planning and regulating inventory use and their associated expenses is the focus of a substantial quantity of accounting information. Explain, using examples, the five types of expenses connected with resale products and the resources required to produce it

Discuss four different forms of inventory that can be held by a retail firms and how theydiffer from those held by manufacturing firms with respect to type and level.

Identify each item as describing the FIFO method, LIFO method, or average cost method of inventory valuation. A. Involves calculating the total number of units in the warehouse FIFO LIFO Average cost B. To determine cost of goods sold, begin with the earliest goods acquired FIFO LIFO Average cost C. To determine merchandise inventory balance, begin with the earliest goods acquired FIFO LIFO Average cost

In the Purchasing Process - Level 0 Diagram, a data flow called "inventory's purchase requisition" most likely would be sent by the inventory management process to which of the following processes? Group of answer choices a. order goods and services b. receive goods and services c. determine requirements d. none of the above.

The goal of this is to review concepts in inventory cost methods.    Directions 1.What are the three primary inventory cost flow assumptions? 2. How is cost of goods sold calculated in each of the inventory cost flow assumptions?  3. How does the specific identification method differ from these three primary inventory cost flow assumptions?  explain in good detail responses for each one of the questions