Distinguish between the periodic and perpetual inventory system. Describe the advantages and disadvantages of both a periodic and perpetual system. Select your favorite merchandising company. Discuss which system you believe would be most beneficial for them and why

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A:

Q: How do I use FIFO and calculate the Cost of Goods and inventory ?

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Q: Define Sales discounts.

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Q: Which of the following is an advantage of the periodic inventory system?A. frequent physical…

A: When a physical inventory count is performed, a periodic inventory system just updates the ending…

Q: Identify any two potential drawbacks that purchasing manager could face given their choice of…

A: The sourcing process encompasses all activities centered on identifying and evaluating possible…

Q: Describe costing inventory using weighted average. Address the different treatment, if any, that…

A: Weighted average cost method of inventory valuation is one of the 3 methods of accounting inventory.…

Q: How to do INventory valuation with WAC method. Could you please explain this with an example…

A: Inventory valuation is done by the companies in order to find the value of the inventory that…

Q: How did you get the inventory carrying cost please?

A: Lets understand the basics. Economic order quantity is a quantity at which carrying cost and…

Q: Describe the Issues Pertaining to the Retail Method.

A: Retail inventory method is used to calculate the value of ending inventory by comparing the retail…

Q: After companies apply one of the four costing methods, Inventory is reviewed to ensure it is…

A: The cost of inventory is the amount spent to acquire or produce it, including expenses such as…

Q: Best Model for Managing Inventory and explain?

A: Inventory control helps your business maintain the right amount of inventory while reducing costs.…

Q: Write out the formula for the total costs of carrying and ordering inventory, and then use…

A: The formula for the total costs of carrying and ordering inventory and using the formula to derive…

Q: Discuss the effect of absorption and marginal costing on inventory valuation and profit…

A: Absorption costing also written as full costing. Under this method, all costs are considered in…

Q: How do retail companies correctly match expenses with revenue for the period to get an accurate net…

A: The matching principle in accounting is a fundamental principle that requires companies to report an…

Q: There are numerous inventory costing methods including FIFO, LIFO, and Weighted Average methods.…

A: Ans. There are 3 methods to value inventory and these are FIFO, LIFO and weighted average. Different…

Q: Mr. Taj want to sell goods at higher price in future , suggest him best method of purchasing :

A: Purchase discounts: The sellers offer a reduction in purchase price on initial purchases, to…

Q: Determine ending inventory by applying the retail inventory method.

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Q: What is the distinctionbetween retail and wholesale merchandising companies?

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Q: Discuss the effect of absorption and marginal costing on inventory valuation and profit…

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Q: Sunset Graphics often buys inventory after receiving a sales order from the customer. Suppose you…

A: The objective of the question is to identify the shared and unique elements in the sales and…

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Q: order to meet the purchasing objective, purchasing agents should avoid temptations such as gifts and…

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Q: Why should a business engaged in merchandising always try to negotiate with its vendors, the…

A: Inventory is the detailed list of items that are present on hand. It constitute of all the finished…

Q: What is the difference between purchase requisition and purchase order

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Q: Briefly explain the similarity and difference between the merchandise inventory of a retailer and…

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Q: Match each item to a choice: Choices: Purchase discount Sales discount Buyer Seller

A: Invoice refers to a document issued by the trader displaying the addresses of the seller and buyer,…

Q: Analytics of the inventory item that produces the most profit is an example of the diagnostic…

A: Analytics of the inventory item that produces the most profit is an example of the diagnostic…