Which of the following costs do not come under inventory carrying cost calculation? Investment in a software for updating stock position online Investment in stores space Salaries of procurement personnel Cost of maintaining the inventory stocks

Q: Which of the following is not an advantage of a perpetual inventory system? a. Assists in the…

A: The perpetual inventory method is a much better method in comparison to the periodic inventory…

Q: Sales revenue is generated by the sale of inventory. Companies can choose between the perpetual and…

A: Introduction: All product and service sales are included in sales revenue, although they are not…

Q: rchases = Cost of goods available for sale – Ending inventory = Cost of goods sold   (A) How does…

A: Cost of goods sold is the cost incurred in producing or purchasing the goods sold in the current…

Q: Based on the following data, make a comparison between the use of the flow of inventory costs…

A: FIFO:  Under this method, the inventory that is bought first is to be sold first. Thus the ending…

Q: Which inventory cost flow method is most similar to theflow of products involving ( a ) a gumball…

A: A gumball machine: The first in first out (FIFO) method cost flow assumption is most similar to the…

Q: Task description: Explain considerations for businesses while developing and selecting their…

A: First-in-first out(FIFO): As the name suggests that the oldest inventory or purchases will be sold…

Q: Which one of the following inventories may not be valued for balance sheet purposes at the…

A: Inventory is valued only at lower of Cost or Net realizable value(which is the selling price minus…

Q: Explain the cost of inventory of a service provider.

A: Inventory refers to the stock of a company that is kept in storage for the final purpose of selling…

Q: A cost management system provides ________. A) measures of inventory value and cost of goods sold…

A: Management accounting refers to the provision of the financial as well as non- financial decision…

Q: Which of the following companies would be more likely to use the specific identification inventory…

A:

Q: 1.                 is not considered as an Inventory A) Assets intended to be sold in the normal…

A: 1 : Equipment used in the manufacturing process whether directly or indirectly cannot be considered…

Q: Which of the following is an advantage of the periodic inventory system?A. frequent physical…

A: When a physical inventory count is performed, a periodic inventory system just updates the ending…

Q: What is a LIFO inventory pool? How is the cost of ending inventory determined when pools are used?

A:

Q: Explain considerations for businesses while developing and selecting their Inventory system from…

A: FIFO method is the method of valuation of inventories. The inventories are sold at the time from…

Q: Which of the following procedure is designed to prevent the company from ordering unnecessary items?…

A: D) Approval of purchase requisitions is the procedure designed to prevent the company from ordering…

Q: ethod to use or are there other determinants that are more important in your opinion? Provide…

A: FIFO stands for first in first out. It values the inventory on the basis of first costs. The goods…

Q: Which of the following is not an advantage of a perpetual inventory system? a. assits in the…

A: Under the perpetual inventory system, transaction related to the inventory is updated immediately as…

Q: Evaluate the following statement: “Without electronicpoint-of-sale terminals, it simply would not be…

A: Given statement is: Without electronic point-of-sale terminals, it simply would not be possible to…

Q: Ethics within inventory estimates and other creative accounting methods. Channel stuffing, swaps,…

A: Ethics implies the arrangement of rules that the association ought to follow. While in business,…

Q: Which of the following is a substantive test in relation to completeness? a. Inspect physical…

A: Inspect physical inventory, checking from inventory records to physical stock is an Audit assertion…

Q: The ability to lower overall inventory warehousing costs is an advantage of which type of system…

A:

Q: I need help determining the cost assigned to inventory and the cost of goods sold using FIFO. Some…

A: Perpetual inventory system: Under this inventory system, the records of inventory are continuously…

Q: A cost accounting system uses which of the following inventory systems? a.perpetual system…

A: Inventories are assets that are sold, purchased, and manufactured in an organization as a core…

Q: Which of the following is an advantage of the periodic inventory system? Group of answer choices…

A: The periodic inventory system is a method of inventory valuation, where inventory is valued at the…

Q: Which one of the following groups of items best identifies various types of inventory opportunity…

A: Inventory Opportunity cost includes the costs to order and hold inventory, additionally on…

Q: Discuss the treatment of freight-in, net markups, normal spoilage, and employee discounts in the…

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

Q: The flowchart below illustrates two alternative inventory ordering methods. Answer part 1 to 3 based…

A: The above-mentioned inventory ordering alternatives are used by organizations as per their order…

Q: Why would a "Just in Time" inventory management practice be preferred over a "Just in Case inventory…

A: Just in Time Inventory Management:- It is the inventory technique where labor, material, and other…

Q: Analytics of the inventory item that produces the most profit is an example of the diagnostic…

A: Analytics of the inventory item that produces the most profit is an example of the diagnostic…

Q: Based on the following data, make a comparison between the use of the flow of inventory costs…

A: Given, sales = $200000 Selling per unit = $5 per unit Total number of units sold = Sales / selling…

Q: Which of the following is not a reason for the physical inventory count to differ from what…

A: Inventory is one of the important current asset of the business. This can be in form of raw…

Q: Identify the following questions as most likely to be asked by an internal (I) or an external (E)…

A: Definition: Internal users: The internal users are the users of the information who are within the…

Q: Define Inventory Turnover?

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: Journal entries for recording revenue and costs for service provider. For a traditional…

A: Prepare journal entries for the service companies:

Q: You may recall from Principles I that “Cost of goods sold” for a retailer is figured as shown below:…

A: Gross profit means the difference between the sale revenue and cost of production. Cost of goods…

Q: (Inventoriable Goods and Costs) Clay Mattews, an inventory control specialist, is interested in…

A:

Q: nventory valuation is used to calculate the cost of goods sold and cost of ending inventory. The…

A: First in First out Method This is one of the popular method of inventory valuation.  While using…