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Maria purchased 65000 worth of inventory for cash in dec 2003 the company sold 25000 in dec and 40000 in Jan Calcula how much of the 65000 of merchadise would appear in cost of goods sold on dec 2003?
The formula for calculating Cost of Goods Sold is: Beginning Inventory + Net Purchases + Freight In - Ending Inventory. So...basically, the whole $65,000 would show up in her COGS for December.
Would anyone recommend some websites that have vocabulary in English regarding Auditing or Finance?
There is one in the related links
How would you value a retail store's inventory for liquidation?
The condition of the goods and the supply and demand for the goods would both be factors that affect the liquidation value of a company's inventory. The sales method used during the disposal of the inventory would also impact the value of the goods sold. Inventory liquidators know that anything can be sold if the price is low enough but generally chose a method that best meets the needs of the company or creditor selling the goods. If cash is needed quickly goods can be sold at auction to the highest bidder with no reserve price. If time is not critical goods can be initially marked down by a certain percentage and then at incrementally larger discounts until the inventory is completely liquidated.
Which financial ratio would you be most likely to consult if you were a banker considering the financing of seasonal inven?
If I were a banker considering financing for seasonal inventory, I would most likely consult the current ratio. This financial ratio, calculated by dividing current assets by current liabilities, helps assess a company's short-term liquidity and ability to meet its obligations. A strong current ratio indicates that the business is well-positioned to manage its seasonal inventory and any related cash flow challenges. Additionally, I might also consider the inventory turnover ratio to evaluate how efficiently the company manages its inventory.
Does stock include customers goods?
No, stock typically refers to a company's inventory of goods that are available for sale, not customers' goods. Customers' goods are items that belong to customers and are not part of the business's inventory. However, if a company offers services that involve storing customers' goods, those items would be considered separate from the company's stock.
Which is lifo or fifo if in a period of rising prices ending inventory would be highest?
fifo
What method gives highest or lowest ending inventory when prices are low?
When prices are low, the First-In, First-Out (FIFO) method typically results in a higher ending inventory value. This is because FIFO assumes that the oldest, lower-cost inventory is sold first, leaving the newer, higher-cost inventory in ending inventory. Conversely, the Last-In, First-Out (LIFO) method would yield a lower ending inventory value in this scenario, as it assumes that the most recently purchased, potentially higher-cost items are sold first.
The cost of good sold by afirms was 20000 it maks a gross profit of 20 percent on saleif inventory at the beginning of the year was 4500 and the ending was 5500 what is inventory turnover ratio?
inventory turnover ratio==cogs/average inventory average inventory=opening inventory + closing inventory/2 average inventory =4500+5500/2 =5000 inventory turnover ratio = 20000/5000 = 4
How do you calculate the cost of goods sold without an beginning or ending inventory?
It is ok with there is no opening or closing inventory in that case where company is starting business first month and also there would be no beginning inventory if in last month there were no closing inventory in that case purchases are considered as cost of goods sold.
Is the money spent on new purchases considered COGS or is the change in inventory considered COGS?
COGS is calculated by combining the purchases with the change in inventory. Example, At the beginning of the year Company A's inventory was counted and determined to be valued at $100,000. The Company purchased $1,000,000 in goods to sell from the beginning of the year to the end of the year. The inventory was counted and valued again at the end of the year and was valued at $300,000. Cost of good sold would be the combination of purchases ($1,000,000) and change in inventory which be beginning inventory less ending inventory or -$200,000. And COGS would be $800,000.
In the completed worksheets which set of columns would contain the income summary representing beginning and ending inventory?
Usually the ones in the Cost of Goods Sold section.
What does a class about network security auditing teach to students?
A class about network security auditing would teach students to be resourceful in solving network security problems. A network security auditing class would also teach students how to use the newest plug-ins.
How would you differentiate dynamic scheduling and dynamic inventory?
How would you differentiate dynamic scheduling and dynamic inventory? How would you differentiate dynamic scheduling and dynamic inventory?
What does inventory mean?
An inventory is a list of things. On a ship the inventory would be a list of everything on board. In a computer game the inventory would be the list of items your character has on them to use in different ways. In a shop it would be a list of the stock.
Maria purchased 65000 worth of inventory for cash in dec 2003 the company sold 25000 in dec and 40000 in Jan Calcula how much of the 65000 of merchadise would appear in cost of goods sold on dec 2003?
The formula for calculating Cost of Goods Sold is: Beginning Inventory + Net Purchases + Freight In - Ending Inventory. So...basically, the whole $65,000 would show up in her COGS for December.
A antonym for inventory?
The word inventory does not have any true antonyms. Synonyms include backlog and reserve. The opposite of inventory would simply be a lack of inventory.
The adjustment to record inventory shrinkage would increase merchandise inventory?
yes
