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Which president got arrested for spending while a buggll in Washington dc?
US Grant was the speeder. He commended the officer who stopped him for doing his duty.
What is the differences between Days of Inventory On Hand and inventory turnover?
Number of days inventory in hand tells about how many day's inventory is available while inventory turnover tells about how many times in a fiscal year inventory is used to convert to finished goods for sale.
Is inventory turnover the same as inventory conversion period?
Inventory conversion period tells that how many days it is require to convert inventory to finished goods while inventory turnover tell in number of times that how many times inventory turned into finished goods in one fiscal year.
How do I calculate inventory turnover?
To calculate inventory turnover, divide the cost of goods sold (COGS) by the average inventory for a specific period. The formula is: Inventory Turnover = COGS / Average Inventory. Average inventory can be calculated by adding the beginning inventory and ending inventory for the period and dividing by two. A higher turnover rate indicates efficient inventory management, while a lower rate may suggest overstocking or weak sales.
What is the meaning of Perpetual and periodic system of accounting?
Perpetual System is that system in which company continuously updates the value of inventory while in periodic system inventory valuation is done only for closing inventory when company done physical inventory calculation.
Who is responsible for balancing inventory?
Inventory specialists or managers are typically responsible for balancing inventory levels to ensure optimal stock levels while minimizing excess or shortages. They use tools such as inventory management software and forecasting techniques to optimize inventory flow and meet customer demands efficiently.
Inventory carrying cost and cost of not having it?
Inventory carrying cost is that cost which is incurred by company to stock the inventory while cost for not having inventory means that cost which company has to bear due to non availability of inventory like loss of sales or good sales opportunity loss cost etc.
How do you see your inventory in Free Realms?
While in-game, press the "I" key.
Is ending inventory asset or liability?
asset Inventory is a current asset so when the required inventory is utilized the remaining inventory still remain as asset and not become liability. For example inventory of $100 purchase to use for production which is our current asset. when inventory of $90 utilized the remaining $10 is still our current asset while $90 become expense for production of units.
Does inventory goes into the cash flow statement?
Yes, changes in inventory do appear in the cash flow statement. Inventory is a current asset, and changes in inventory, such as purchases or sales, have an impact on cash flow from operating activities. An increase in inventory is subtracted from net income to calculate cash provided by operating activities, while a decrease in inventory is added back to net income.
Is it possible for a firm's cash cycle to be longer than its operating cycle?
No, a firm's cash cycle cannot be longer than its operating cycle. The cash cycle measures the time it takes for a company to convert its investments in inventory and accounts receivable back into cash, while the operating cycle includes the entire duration from acquiring inventory to collecting cash from sales. Since the cash cycle is a subset of the operating cycle, it will always be equal to or shorter than the operating cycle.
Explain briefly the two directions of inventory test counts?
The two directions of inventory test counts are forward and backward. Forward test counts involve counting from the beginning of the inventory list, while backward test counts involve counting from the end of the inventory list. These two directions help ensure the accuracy of inventory counts and detect any discrepancies.
