Inventory Management (Abc-Xyz-Ved-Fsn)

Evaluate the role their inventory plays in the company’s performance, operational efficiency, and customer satisfaction.

* Time, energy, and effort used to move finish products to another warehouse to verify and prepped order for shipment.

Answer 1- The first question which shows the two new options how impact transfer and customer might freight cost and the answer for this question is given in first alternative and second alternative which is elaborated above.

AE evaluates merchandise inventory at the lower of average cost or market, utilizing retail method. Average cost includes merchandise design and sourcing costs and related expenses. AE records merchandise receipts at the time merchandise is delivered to the foreign shipping port by the manufacturer; at this point the title and risk of loss is transferred to the company.

4. What inventory method is used to value inventories? Does this method reflect current cost at year-end?

1- a. According to ASC 605-25-25-5 , a delivered item in an arrangement with multiple deliverables shall be considered a separate unit of accounting if the following criteria are met:

III. If the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item or items is considered probable and substantially in the control of the vendor.

All goods purchased pass through a receiving department under the direction of the chief purchasing agent. The duties of the receiving department are to unpack, count, and inspect the goods. The quantity received is compared with the quantity shown on the receiving department’s copy of the purchase order. If there is no discrepancy, the purchase order is stamped “OK—Receiving Dept.” and forwarded to the accounts payable section of the accounting

3. Using the variable costing method, which of the following costs are assigned to inventory?

(b) Cost of Finished Goods Sitting Idle in the Warehouse: They are able to ship out   finished products effectively.

How is inventory valued? Which inventory valuation method is most popular and why? What impact on the financial reports can the selection of an inventory valuation method have?

If goods are sold _____________ and are in transit at the end of the period, they should be included in the seller’s inventory.

The Inventory table contains the components that make up an Item. It is used for managing inventory and determining the availability of ingredients that go into prepared items, such as bakery products, etc. Each record in the inventory table is linked to the Item table by the item_id and to the Supplier’s table by the supplier_id.

Nowadays, in an era that has advanced technology and a place in the world. Everything can be linked only at your fingertips in the times of rapidly developing with the sophisticated technology of today. Therefore, an inventory system is also not lagging behind in introducing a method of keeping an inventory data systematically and safely. The system plays a very important role in improving the competitiveness of a business. Usually, organizations today face too many challenges to achieve the cost, speed and reliability. Efficient inventory system really help in order to make sure the store’s performance and data record is always in good condition and secured from abusers. The system basically to ease the admin to manage the

goods. They can also be in process between different locations. Holding of inventories can cost a