Lonzo Inventory Study

The process requires Peyton Approved to discover how much inventory is sold and what the cost of goods will result in. The process requires the business to review three forms of merchandise inventory to determine which summary benefits the business’s operational behavior. One will discover when assuming that first inventory purchased by the store is the first to be sold, it is determined that the FIFO method displays the best financial outcome for the business. During the process of updating journal entries, one must enter the information proved appropriately into the T-accounts to add the balance under each record. Once the T-accounts for transactions and adjusted transactions are balanced, the next step is to enter the information provided on the balance sheet. The balance sheet will list Peyton Approved assets, liabilities and stockholders equity after added during the T-account process (Nobles, 2014). Once the balance sheet is completed the income statement, statement of retained earnings, and closing entries can be filled with the information proved. This will give the business a full review from journal entry to closing entries of the business for the six month accounting

The article “Laker rookie Lonzo Ball becomes youngest ever to get triple-double” is about how Lonzo Ball was the youngest player to get a triple-double as well as how other famous NBA players reacted to this big accomplishment. In the game of basketball, when a player gets 10 or more in any 3 stats ( points, rebounding, blocks, steals, and assists) it is stated as a triple-double. Lonzo Ball is a famous basketball player in the Los Angeles Lakers. Lonzo ball got his triple-double (19 points, 13 assists, and 12 rebounds) while playing against the Milwaukee Bucks although they lost 98-90. Lonzo Ball accomplished the triple-double at age of 20 years and 15 days old surpassing Lebron James who used to hold the record at the age of 20 years and

Planning and Forecasting is a vital function of management especially as it is related to inventory management. Planning has four processes associated with it. They are establishing goals, formulating strategies, implementing the plan and evaluating its success. The planning process of inventory will assist the organization choose the correct inventory system resulting in reduced costs and increased efficiency. For any business, having large amounts of inventory could prove to be expensive. In most company’s the management team will forecast sales on a monthly basis in order to keep enough inventories to fill customer orders in a timely fashion but not have an overflow of stock. There are various types of

It is a great idea that LaVar Ball is starting a basketball league to provide teens the opportunity to bypass college and play basketball professionally.

Inventory Method: The inventory amount for the year ended 12/31/2016 is $14,760,000,000 which is an $759,000,000 increase from the previous year. CVS uses the lesser of the weighted average cost or market value when determining the value of inventory. Inventory is verified for accuracy by regularly doing physical counts in all locations. Between physical counts, CVS uses sales results from previous years to accrue the estimated physical loss. These estimates are determined for each individual store and warehouse separately to ensure the most accurate information possible is reported. CVS has decided to use a new method available after annual periods beginning after 12/15/2016 known as the lower of cost and net realizable value to replace using

Justina Lee use of Dillard’s essays is effective because for both ladies the candle light creates a new vision. Thus, allowing them to see things from different perspectives calling it the “final beauty.” Their imagination as a writer, through the light focuses on life rather than death. Lee states that in the light of these candles she sees historical events anew. Like Dillard, Lee looks beyond the surface and tries to find a deeper meaning into the story of the massacre. Lee uses the Moth example to highlight that she is also passionate about being a writer who thinks deeply about the storylines or issues. Lee also used the Weasel piece to explain that Dillard wants her students to be passionate and to use their own ideas. Lee thinks

Lonzo Ball, a hot basketball player from UCLA, is going to take part in NBA draft this year. His father, LaVar Ball, really has a big mouth. He said that his son would be better than Stephen Curry who was the MVP last season (Avakian 2017). There are a lot of articles talking about LaVar and criticizing his arrogance, instead of his superstar son. LaVar’s words had negative influence on his son’s future. I think he should stop talking and focus on his son’s future. In my journal, there are two reasons.

The second types of inventory methods to value its inventory that CVS uses is the most common one used for most business the First-In, First-Out (FIFO). First-In, First-Out (FIFO) is defined as the first inventories bought are the first ones to be sold. CVS only uses FIFO for Some Retail Pharmacy and Rest of Business (Front store). CVS utilizes this method because; the fresher products have to be out the door first. Also, FIFO is an easier method than Weighted Average Cost. And most importantly it may over inflate cost because the last products bought and out the door first are usually the most expensive products.

The most talked about person of the summer, Lonzo Ball, painted the picture of a star, earning himself the second pick of the 2017 NBA draft, only to downplay his expectations. Lonzo Ball is the NCAA’s best passer, averaging the most assists ever as a freshman in the PAC 12. Beginning his NBA career, he downgraded his assist numbers, scoring numbers, and lowered his field goal percentage by almost 25% (ESPN). Lonzo’s college stats raise the eyebrows of many greats, but his NBA stats have shown signs of bust.

Grant Wiggins is a black male in 1940’s America. He teaches school at a plantation church for children from kindergarten to 6th grade. Grant is a complex and well-rounded character yet often decides to only do things that immediately benefit himself. For example when Miss Emma and Tante Lou asked him to go see Jefferson he found no point in it for himself so he was strongly against going. This shows he is a self-centered person. Wiggins also easily gives up as when he was tired of the stresses of his town he wanted his married girlfriend to pick up and leave with him. I believe he grows as a character through helping Jefferson.

If you are a soccer fan you might be familiar with some of the names of the top Spanish teams such as Real Madrid and Barcelona. They are both run by the same athletic clubs that manage the well known soccer franchises, and are recurrent champions in Liga ACB. Have you heard of Ricky Rubio or the Gasol brothers? Before they were NBA greats they played for their pro teams.

I have taken it upon myself to test two inventory management systems and have found a system that will yield the least cost to Parts Emporium Inc. The two systems I have tested are the Continuous Inventory System and the Periodic Inventory System. Using data that I have gathered from the products DB032 and the EG151, I have compiled calculations and have concluded a continuous inventory system would be best for our corporation. Attached you will find said calculations; I would like to take this moment and present the continuous inventory system and recognize all of the relevant costs. The following is an explanation of each calculation under the continuous inventory system:

Although inventory is an asset it is recorded as a cost, anything recorded otherwise would be unethical and would be hard to report the cost of goods sold once inventory has been depleted.

Once they have their inventory under control, the purchasing department should complete a very detailed cost analysis to determine the total inventory cost, including all aspects and hidden fees. Once they have the