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What method of inventory cost flow assumptions does Luxottica retail use?
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What is luxottica retail employer id number?
luxottica
What methods do not require a physical inventory periodic inventory system perpetual inventory method retail method or gross profit method?
periodic inventory system
What is adjusted selling price method in valuation of inventories?
adjusted selling price method , retail price of the inventory is calculated and marjinal profit is deducted from it generally used in retail business also known as Retail inventory method
Retail inventory or cost inventory?
retail inventory retail inventory retail inventory
The method of computing inventory that uses records of the selling prices of the merchandise is called?
retail method
How do you find out what your Employer Identification Number is?
Luxottica Retail North America Inc.
What is difference between periodic inventory and perpetual inventory?
Periodic inventory method calculate ending stock at the end of the accounting period, which could be Month to Date or Year to Date, while Perpetual inventory system calculates the ending stock on a continuous basis after each transaction (Purchase or Sell). Within Retail industry, periodic inventory method used for inventory valuation at the stores, whereas distributer like SuperValu (in US) follows perpetual inventory method to track inventory in their distribution centers. As a best practice, some of the retail companies are using perpetual accounting method to track inventory available in warehourses and distribution centers. In an idealistic world, perpetual inventory method can provide the true and real time inventory information, however due to complexities in consolidating all the purchases, sales, shrinkages and other market factors, it is advisable for retail companies to follow periodic accounting method to analyze and review the results before presenting the inventory valuation results to internal and external agencies like Shareholders, Income Tax Authorities, et el.
How much inventory per square foot should a retail store have?
This would vary greatly depending on the type of store and it's location. However, if you make some assumptions you could estimate as follows: If a retail store in a certain area generates $250 in sales per square foot per year, and their cost is 60% of sales, then total inventory for the year would be $150. If you want inventory to turn 12 times per year, you should have 12.50 of inventory per square foot on hand. Change these assumptions and do the same calculation.
Advantages and disadvantages the retail inventory method?
It is cost effective and simple for companies to implement since it reduces the number of physical inventory counts. It is also accepted as a method of determining cost of goods sold for income tax purposes by the IRS.
Who is the U S Shoe Corp or Casual Corner retirement plan administrator?
As a former Hahn Shoe employee (div of US Shoe Corp), I received a letter from Luxottica Retail (owners of LensCrafters) that the US Shoe Pension Plan has merged into the Luxottica Group Pension Plan. Their contact info is: Luxotica Retail Retirement Department 4000 Luxottica Place Mason, Oh. 45040 513-765-6000 posted by: Michael Mahan mahantime@gmail.com
What is the annual inventory turnover in the retail painting industry?
The annual inventory turnover in the retail painting industry is obtained by dividing the Annual Cost of Sales by the Average Inventory Level. A low inventory turnover ratio is a signal of inefficiency.
How do you calculate sales return in Retail inventory method?
Neer Department Store uses the retail inventory method to estimate its monthly ending inventories. The following information is available for two of its departments at August 31, 2010. Sporting GoodsJewelry and CosmeticsCostRetailCostRetailNet sales$1,000,000 $1,160,000Purchases $675,0001,066,000$741,0001,158,000Purchase returns(26,000)(40,000)(12,000)(20,000)Purchase discounts(12,360)-(2,440)-Freight-in9,000-14,000-Beginning inventory47,36074,00039,44062,000At December 31, Neer Department Store takes a physical inventory at retail. The actual retail values of the inventories in each department are Sporting Goods $95,000, and Jewelry and Cosmetics $44,000.
