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A company had inventory on November 1 of 5 units at a cost of $17 each. On November 2, they purchased 12 units at $19 each. On November 6 they purchased 8 units at $22 each. On November 8, 12 units were sold for $52 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?
What else can I help you with?
If you have 16 SLocs in your unit and the cyclic inventory has a material which you have issued to 8 different SHRs that particular material will appear on a minimum of inventory count shee?
s
What are the 10 methods of inventory valuation?
1. Weighted Average 2. LIFO (Last-in-last Out) 3. FIFO (First-in-first-out) 4. Lower of cost or market (LCM) 5. Gross Profit Method 6. Dollar-Value- LIFO 7. Retail Method 8. Dollar-value LIFO retail
The sale tax on a 120 skateboard at surf'n' skate is 9.60 What is the sales tax rate?
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Stuart is buying a pair of jeans that regularly cost 40.00 They are on sale for 20 percent off If the tax rate is 8 percent What is the sale price of the jeans including tax?
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There are some common techniques and some unique business processes which can be implemented to achieve cost reduction and help with the better management of inventory. Many organizations should implement the following ten practices to reduce inventory costs: 1. Conduct periodic reviews and audits of various inventories being held in-house. 2. Analyze the usage and lead times of on-hand and order book inventory. 3. Reduce safety stock based on customer demand. 4. Use 80/20 rule (ABC approach) for inventory control. 5. Improve cycle counting techniques for inventory management. 6. Use vendor managed inventory or implement vendor stocking programs, which means supplier are managing inventory with the organization. 7. Use collaborative planning and replenishment (CPFR) business processes and IT standards to collaborate among multiple parties in the supply chain network. 8. Improve the forecast of each product at the item level, i.e. use a variety of demand forecasting arithmetic models. No single set of algorithms fits all customers' forecast or product families. 9. Communicate demand/hard orders to suppliers for better delivery of inventory. 10. Implement new inventory software which uses inventory quality ratio methodology and multi-echelon inventory optimization tools.
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