7.3 Inventory Managment

Entrepreneurship | 7.3 Inventory Management Directions: The owner of Pretty Pet Groomers has asked you to help evaluate her end-of-year inventory. Below is a list of the items in her inventory along with the price for each. Calculate the yearly sales and the ending value of her inventory based on the number of items left at the end of the year. Then answer the questions that follow to help evaluate inventory needs. MATHEMATICS TIP: Quantity Sold x Retail Price = Yearly Sales Beginning Inventory – Ending Inventory = Quantity Sold Ending Inventory x Retail Price = Ending Inventory Value Description Beginning Inventory, January 1 Ending Inventory, December 30 Quantity Sold Retail Price Yearly Sales Ending Inventory Value Dog Care Books 12 10 2 12.99 25.98 129.90 Bottles and Pumps 12 10 2 8.59 17.18 85.90 Brushes 12 6 6 6.99 41.94 41.94 Clipper Blades 24 2 22 38.99 857.78 77.98 Clippers 6 6 0 139.99 0.00 839.84 Clipper Sprays 12 3 9 7.99 71.91 23.97 Trimmers 6 5 1 49.99 49.99 249.95 Cologne (1 gallon) 2 1 1 28.99 28.99 28.99 Combs 12 5 7 10.99 76.93 54.95 Conditioner (1 gallon) 2 1 1 24.99 24.99 24.99 Toothpaste 6 0 6 5.99 35.94 0.00 Toothbrushes 60 12 48 .79 37.92 9.48 Ear Cleaner (1 gallon) 2 0 2 27.99 55.98 0.00 Ear Mite Treatment 24 12 12 7.99 95.88 95.88 Eye Wash 24 11 13 7.99 103.87 87.89 Nail Grinder 6 6 0 38.99 0.00 233.94 Nail Polish 48 40 8 2.99 23.92 119.60 Nail Trimmers 6 5 1 3.99 3.99 19.95 Shampoo (1 gallon) 2 0 2 24.99 49.98 0.00