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How do you find desired ending inventory?
fixed percent times preceding year's budgeted sales
When preparing a merchandise purchase budget the required purchase in units equals?
budgeted unit sales - beginning merchandise inventory + desired merchandise ending inventory.
The inventory turnover is calculated by dividing cost of goods sold by?
ending inventory
Digitex Inc had sales of 6000 units in March A 50 percent increase is expected in April The company will maintain 5 percent of expected unit sales for April in ending inventory Beinning inventory fo?
Digitex, Inc. Projected sales 9000(6000x1.5) +desired ending inventory 450(5%of 9000) -Beginning inventory..... 200units Units to be produced.... 9,250 units
An overstatement of ending inventory in one period results in?
An overstatement of ending inventory in one period results in
In order to estimate production requirements you do what?
add projected sales in units to desired ending inventory and subtract beginning inventory
How do you find desired ending inventory?
fixed percent times preceding year's budgeted sales
When preparing a merchandise purchase budget the required purchase in units equals?
budgeted unit sales - beginning merchandise inventory + desired merchandise ending inventory.
The inventory turnover is calculated by dividing cost of goods sold by?
ending inventory
Digitex Inc had sales of 6000 units in March A 50 percent increase is expected in April The company will maintain 5 percent of expected unit sales for April in ending inventory Beinning inventory fo?
Digitex, Inc. Projected sales 9000(6000x1.5) +desired ending inventory 450(5%of 9000) -Beginning inventory..... 200units Units to be produced.... 9,250 units
An overstatement of ending inventory in one period results in?
An overstatement of ending inventory in one period results in
What does open to buy mean?
Open to buy is a method of planning and controlling retail inventory. Calculate your opening inventory balance (in units or dollars), add the in-coming (already ordered) inventory and subtract your projected sales for the period...then compare that number to your desired ending inventory amount...the difference is how much you are open to buy (inventory that should be ordered). So if you start with 100,000 and have 10,000 on order and expect sales to be 40,000 and you want your ending inventory to be 90,000...You are open to buy 20,000 90- (100 + 10 - 40) = 20
What is the difference between ending inventory using LIFO and ending inventory using FIFO referred to as?
LIFO Reserve
When calculating prime cost do you use beginning inventory or ending inventory of direct materials?
Total material consumed amount is used for prime cost not opening inventory or ending inventory only.
A company's COGS was 4000 Determine net purchases and ending inventory given goods available for sale were 11000 and beginning inventory was 5000?
goods available for sales = beginning inventory + net purchases. So net purchases = 6000 Goods available for sale - ending inventory = COGS So ending inventory = 7000
How do you trade on spiral knights?
Click the desired player, select 'trade', click. Then select the desired items from your inventory.
What is the inventory turnover ratio?
Inventory Turnover Ratio = Cost of Goods Sold / Average Inventory and Average Inventory = ( Beginning Inventory + Ending Inventory ) / 2
