0
Cost of the goods buy earlier plus cost of goods buy later and divided with the total amount of the goods.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What is merchandise inventory system?
Merchandise inventory:
If the average number of days sales in merchandise inventory is 40 days the merchandise turnover ration is?
Merchandise turnover ratio = 360 / 40 = 9 times
When using a perpetual inventory system why are discounts credited to merchandise inventory?
The discounts reduce the cost of the merchandise inventory.
Under a perpetual inventory system acquisition of merchandise for resale is debited to?
Merchandise Inventory account
What is theMerchandise Inventory?
Merchandise Inventory is a stock of products on hand of a merchandise company intended for sale.
What type of account is Merchandise Inventory?
Merchandise Inventory is an asset account that shows up on the balance sheet.
How do you spell inventory?
That is the correct spelling of the word "inventory" (stock of merchandise).
What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
Merchandise Inventory is found on the income statement. True or false?
It is true that merchandise Inventory is found on the income statement.
What is the Average number of days sales in merchandise inventory?
The average number of days sales in merchandise inventory is a measure of how many days it takes for a business to sell its entire inventory. It is calculated by dividing the average inventory value by the cost of goods sold (COGS) and then multiplying by 365 days. This metric helps assess how efficiently a company is managing its inventory levels.
Is inventory shrinkage recorded as an expense?
As a reduction to merchandise inventory
Finished goods inventory and merchandise inventory are the same?
YES
