Mr Crumpler Observation

Insufficiently determined the types of inventories these companies currently manage; Insufficiently described their essential inventory characteristics.

In the past few years, they have experienced a significant increase in inventory days. Not having attractive inventory leads to a decrease in sales and an increase in discounts and write offs leading to further decreases in EBITDA Margins. In 2009, the inventory turnover took 215 days. This is significantly above Le Chateaus competitors, for example Reitman’s inventory took only 72 days (Annual Report 2010). This means it takes Le Chateaus three times as long to sell inventory compared to their competitors. To make matters worse, this trend has been exacerbated in recent years. Le Chateau’s turnover has ballooned to a staggering 341 days while Reitman’s has kept inventory turnover stable at only 76 days.

In the summary of significant accounting policies, what is American Eagle's procedure in accounting for inventory? pA-12

I don’t have an issue discontinuing the practice of doing monthly physical counts on 100% of the inventory and going to a random, cycle count procedure where small numbers of items are counting over time with a goal of cycling through the inventory quarterly. I would request that the managers provide documentation to Bill of the items counted, even if it doesn’t result in an inventory adjustment. This can be done in a quick email identifying the items counted each week and the results of those counts. The purpose would be to document the cycle count process as part of our internal control of inventory. Much like we do on the upholstery side, Bill could supply a summary of the items counted in a given time period and the results of those

ii. The inventory was scattered all over the warehouses, making it very difficult to find at times.

Apollo Shoes, Inc. has always been known for its leadership position in electronic shoe technology, but we are now committed to expanding our marketing focus. With new applied technologies, Apollo Shoes, Inc. can maintain its tradition of high tech electronic performance and style. We continue to work on and improve the SPEAKERSHOE, an athletic shoe with an amplified loudspeaker, originally designed for the international recording group "Mythic Meathook." We are hard at work on new ideas, such as the PHONESHOE, the sneaker with a cellular phone for those executives who like to simultaneously combine exercise with work. We anticipate that the PHONESHOE will capture a significant piece of this quickly expanding market.

1. How many inventory items with a market value of $25,000 or more are included in location 02?

I attended Rudd Middle summers school program for EL students. I witnessed students from 3rd grade to high school students. The location of Rudd Middle School is within the city limits of Pinson, Alabama. Rudd Middle School is one of 9 middles schools within the Jefferson County Board of Education. Pinson, Alabama exact location is 33°41′11″N 86°40′55″W/ 33.68639°N 86.68194°W. Pinson is approximately 7 square miles. Rudd Middle School is a rural community. You can find the school surrounded by a nicely laid out neighborhood. The school has a small town community feel to it. The technical building is an older structure that seems to need to be replaced in the near futrure. The classrooms were average, but many of the instructors were

Author of “Too Much of a Good Thing”, Greg Critser, proclaims that the ever-increasing epidemic of obesity requires continuous action by “restigmatizing” the unacceptable act of overeating through the exemplar of surrounding nations. In his essay, Critser informs the public of the need to control and obtain the eating habits of America’s people through educating our youth.

Sloan & Spencer Auditing Firm LLC, proudly announces that ours auditing firm is respected and reliable auditing firm in the United States. Our firm is also Service Auditor (SAS 70) Assessments certify among other auditing firms, and have specialization auditing in the areas of superior athletic podiatric products. Our auditing firm provides services like recovery audit and revenue Optimization, Coding Accuracy

This provides an indication of which items and what quantities to carry in the future.” (Apollo, 2011) This is another area of opportunity to establish a strong inventory system to be able to track items sold and being able to forecast better. Kudler strives to deliver 95% inventory to its customers and in order to do that the strong inventory system must be established.

In the text “Exposed Toes” the author, Diane Riva, reflects on her collection of shoes and how each pair has a meaning to her. She describes how each pair of shoe she owns relates to a specific memory or time period in her life. She asserts that shoes can tell stories of our lives and are not just an article of clothing that we wear on our feet. Riva goes through all the shoes she owns and explains their story and how the shoe is a part of her life. For example, she brings up her black sneakers which are worn when we works at a bar. She states, “they are constant recipients of the over-filled glass of alcohol.” From this we learn her profession and get some insight on her memories as a bartender. Riva talks about all of her shoes in this manner

Office Depot uses multiple inventory strategies to order products. 90% to 95% of goods are ordered through automatic replenishment, manual replenishment, pull replenishment, and global sourcing are also used depending on channel, volume, velocity and cost. (Office Depot, 2015). The accuracy of the inventory from both a DC and store perspective is critical to the organizations success. Heizer and Render (2014) state that record accuracy is a prerequisite to inventory management, production scheduling, and sales. Accuracy is maintained by either periodic or perpetual systems (p.479). In Office Depot, the stores are required to cycle-count technology items such as laptops, desktops computers, and tablets five days a week. Discrepancies are entered in the system and bounced off the local DC’s on-hand inventory discrepancies. Office Depot is a “blind receive” organization meaning the stores receive pallets of products and simply unwrap and put them away. The only way a store knows if a product is missing is through the cycle-count program. This system was put into place to speed up the receiving process and eliminate unnecessary steps once the product was received at the store level. Office Depot conducts a full physical inventory once a year through a third party and trues up the inventory shrink at this time.

Schenck, J., McInerney, J. 1998. Applying vendor-managed inventory to the apparel industry. Automat. I.D. News 14(6) 36-38

In the circumstances of Auditing Alchemy, the narrative stated that the organization has not performed a physical count of inventory in quite sometime; with management having uneasy feelings about organizational profitability and performance, a physical inventory count may provide additional insight into any potential inventory issues.