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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.
What is theMerchandise Inventory?
Merchandise Inventory is a stock of products on hand of a merchandise company intended for sale.
Under a perpetual inventory system acquisition of merchandise for resale is debited to?
Merchandise Inventory account
What is the Average number of days sales in merchandise inventory?
It is a liquidity measurement ratio of a company. It is coumpted by dividing the average inventory by the average daily cost of goods sold(cost of goods sold divided by 365). It is a rough measure of the length a company takes to acquire, sell, and replace the inventory. Therefore, a company with a high numbers of days sales in merchandise inventory indicates the company takes long time to finish a inventory circle which is not a good thing for the company
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).
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 normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
Is inventory shrinkage recorded as an expense?
As a reduction to merchandise inventory
Finished goods inventory and merchandise inventory are the same?
YES
