What is a merchandiser?

Q: Define the term merchandise returns.

A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…

Q: What amount should be presented as a deduction from cost of goods sold?

A: The GAAP principles require that the inventory should be valued at the lessor amount of its laid…

Q: What is the LIFO retail method?

A: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of…

Q: What is shelf registration?

A: Answer: Shelf registration is subject to Securities and Exchange Commission SEC Rule 415 of the…

Q: 1. Identify any two examples of Wholesale Merchandise Business and Retail Merchandise Business

A: Introduction:- A merchandising business, often known as merchandisers, is one of the most common…

Q: Describe FOB shipping point and FOB destination. When does the buyer take ownership of the goods,…

A: Transportation Costs: The costs of delivering the merchandise inventory from the manufacturer to the…

Q: Describe about concept of the GOODS ON CONSIGNMENT?

A: Inventory:   Inventory refers to the raw materials, work-in process, and the finished goods…

Q: What is the conventional retail method?

A: Retail inventory method: It takes into account all the retail amounts that is, the current selling…

Q: What is the difference between a sales discount and a purchases discount?

A: The term sales discount is used by the seller, and the term purchase discount is used by the…

Q: why service industry providing service and retail industry dealing in transfer and exchange goods?

A: Service Industry:-As the name suggests, it is the industry which deals in services only, although it…

Q: What are the ways that payments by a seller to a customer is done?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: What is a merchandiser, and what is the name of the merchandise that it sells?

A: Merchandiser: A merchandiser is a business that sells goods, or merchandise, to its customers.

Q: Define goods in transit? Explain?

A: Goods are the inventory of the seller and for purchaser, the goods can be the raw material, if the…

Q: How is standalone selling price defined?

A: Performance Obligation: Performance obligation refers to the obligation that the seller to provide…

Q: An item must possess two characteristics to be classified as inven tory by a merchandiser. What are…

A: The item must satisfy two characteristics to be classified as an inventory by a merchandiser.  1.…

Q: The arrangements between buyer and seller as to when payments for merchandise are to be made are…

A: Solution The arrangement between the buyer and the seller as to when payment for merchendise are to…

Q: While reporting revenue, how a company should consider barter arrangement and discount?

A: Revenue Reporting: The process of accounting for revenue for a product you offer to a client is…

Q: What is the market value of goods

A:

Q: how do you get sales revenue?

A: Required  How do you get sales revenue?

Q: What are the assumption of THE LIFO RETAIL METHOD?

A:

Q: What is purchase returns?

A:

Q: What is a transaction price?

A: Transaction price: It is the price of a service or a good which is expressed relative to the similar…

Q: who benefits: the buyer or the seller?

A: Buyer can "assume the mortgage" which means for purchasing of a home buyer is not required to take a…

Q: Define what net sales?

A: Net sales means the amount of revenue earned from selling the goods or services in which business…

Q: What is meant by the term sales mix?

A: Sales Mix: Sales mix is the relative proportion or ratio of a business's products that are sold.…

Q: What is mark-to-market?

A: Market to market is an equipment that can become different the value on either side of balance…

Q: What is the definition net cost of purchases?

A:

Q: What is b Purchase Volume?

A: Purchase volume means the total amount of all the purchases charged to a single account.

Q: What is an upstream sale of inventory?

A: The upstream sale of inventory is an inter-company transaction between the parent company and the…

Q: Define the term Purchase Volume?

A: INTRODUCTION Purchases  In accounting, the cost of making purchases during a time period with the…

Q: What are the two types of merchandisers? How do they differ?

A:

Q: What is the difference in the operating cycle of a service provider and a merchandiser?

A: Operating cycle is defined as the amount of time the company requires to use its cash in order to…

Q: What is the difference between gross selling price and invoice price?

A: Invoices are the bill which display the total value of the product purchased. Be it gross selling…

Q: Define the term merchandiser.

A: Cost accounting system: Cost accounting system of an organization consists of procedures and…

Q: What is a downstream sale of inventory?

A: The downstream sale of inventory is an inter-company transaction between the parent company and its…

Q: Describe the operating cycle of a merchandiser.

A:

Q: What is a fee income

A: Fee Income There are different ways an organisation can make the sources of income like sales…

Q: What is the difference between gross profit method & the retail method?

A: Gross Profit Method:-This method estimates the value of inventory by applying historical gross…

Q: What is the most common constraint faced by merchandisers?

A: Most common constraints faced by merchandisers are: Limited Display Space: Small stores find it…