Why are physical inventory counts made when a perpetual inventory system is used? a. Same as last year principle requires it b. It verifies inventory numbers recorded c. SEC recommends it d. CFO typically has doubts about the purchasing department

Q: You just took over as chef of a restaurant with a poor handle on inventory control.  Cooks are for…

A: Inventory control is described as a process through which the stock of inventoried goods is…

Q: What is Baker's percentage of assets committed to inventory?

A: Given data  Net revenue = $27,500 Cost of sales = $22,040 Inventory = $1290 Total assets = $16960

Q: Periodic inventory systems may be appropriate for ________________ a. Both small businesses and big…

A: The correct option is option b, Smaller businesses.

Q: Explain also  Which of the following is most consistent with higher inventory turnover? Lower…

A: Inventory turnover is a crucial metric that measures how efficiently a company manages its…

Q: Given that:  Sales = $300,000,000 Transportation cost = $15,000,000 Warehousing cost = $4,000,000…

A: Inventory carrying charge = 30% of average inventory = 30/100 x $15,000,000 = $4,500,000 Hence,…

Q: At Dot Com, a large retailer of popular books, demand is constant at 17,000 books per year. The cost…

A:

Q: Companies take a physical count of inventory at the end of the accounting period. Taking a physical…

A: At the end of an accounting period, the company calculates the rest of the inventory to check if…

Q: Explain the kinds of information that is shown in a perpetual inventory record

A: Perpetual inventory is a form of management accountancy that documents the buying and selling of…

Q: In which of the method of inventory valuation, control of inventory is not possible a. Continuous…

A: Inventory valuation is the monetary amount associated with the goods in the inventory at the end of…

Q: Kelley, Inc. provided the following account balances for 2018: Cost of Goods Sold (Cost of sales)…

A: Given- Cost of sales = $1,300,000Beginning Inventory = 330,000Ending Inventory = 350,000

Q: Inventory for DURABLE goods are usually ______ Than those for perishable items. a. Higher B. Lower…

A: Perishable goods are those goods that can be spoiled if not properly cleared. More specifically,…

Q: In the verification of the amount of the inventory, oneof the auditor’s concerns is that slow-moving…

A: According to the accounting standards there is a distinction between one who takes the physical…

Q: 39) Why is cost information stored in several relational tables? 40) Identify the business activity…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: If a firm has a _______, they would be more willing to store inventory in a warehouse for longer…

A: Request changeability is a proportion of how much inconstancy there is in client interest. It is the…

Q: Match each inventory term to its best description.   Non-Inventory Product               A. Helps…

A: The inventory management process helps maintain a balance between confirming that enough inventory…

Q: Which of the following statements is/are true regarding EOQ?    a. At EOQ, total inventory cost is…

A: Economic order quantity refers to the best order amount for a corporation to minimise the overall…

Q: Who Uses Just-in-Time Inventory Management?

A: Manufacturing is the process of producing finished products and services from raw materials and…

Q: Select the best answer for the question. 2. The carrying cost for inventory consists of which cost…

A: Inventory carrying costs are the costs incurred to carry forward extra units produced and not sold…

Q: What are the benefits and drawbacks of a company's "just-in time Inventory"?

A: Inventory is the collection of storage, merchandise, and materials that a business maintains for…

Q: Why would "Just in Case" or standard inventory management methods be favoured rather than "Just in…

A: Inventory management:It is a well-organized plan for sourcing, warehousing, and trading inventory -…

Q: Inventory turnover is O a. Higher when product takes longer time to manufacture O b. Ratio of…

A: Inventory Performance measures and system-wide approaches are used to calculate the accuracy of the…

Q: Advantages of preparing cash budget would not include one of the following: a. Debtors of the…

A: The Answer is    A.  Debtors of the business can be allowed more time to make payment

Q: What tools and machines are used in an inventory management system and in warehouse storage?

A: When you consider that some businesses might need to keep tabs on hundreds of thousands of stock…

Q: Periodic inventory systems may be appropriate for ________________ a. Both small businesses and big…

A: Periodic inventory systems may be appropriate for ________________ b. Small businesses   For the…

Q: Genuine Reproductions (GR) plans on increasing nextyear’s sales by 20 percent while maintaining its…

A: Given that, Average inventory = $250,000 Increase in next year sale = 20%

Q: Uncommitted inventory is called a. Free inventory b. Safety stock c. Obsolete inventory d.…

A: Inventory is the products or material that an organization produce to achieve the desired goal.

Q: 5. Which of the following inventory technique is appropriate for the classification of inventory…

A: The letter sets A, B and C represent the three unique classes and it is famously known as Always…

Q: What is the main source of income for a buying and selling company?

A: Since you have asked multiple questions, we will answer the first question for you. If you want a…

Q: Expound to management at First Bite, the best practices to consider prior to acquiring the automated…

A: EXPOUND MANAGEMENT: Management is the process of planning and organizing the resources and…

Q: Explain if a policy, a standard, a procedure, or a guideline should be used to ensure inventory…

A: Inventory information system - It is the combination of inventory management software and inventory…

Q: Why would a "Just in Case" or traditional inventory management practices be preferred to a "Just in…

A: Traditional inventory management is used to solve through the forecasting technique and improving…

Q: _________Dependent demand inventory implies to a situation where demand depends on 1)a fixed order…

A: Introduction: The term Business refers to an exchange of goods and services between the buyer and…

Q: Which of the following hold the most for a period review inventory system? a. Uses two bin method…

A: With the periodic survey framework, we can  decide the amount of a thing your organization has…

Q: A company uses FOI policy to manage its replenishment process. They review their inventory and place…

A: From the stated data, I will determine the safety stock,