PROBLEM 3 For each of the following, determine the missing amounts Sales COGS Gross Profit Operating Expenses Net income 1. P100,000 P25,000 P10,000 2. P95,000 P120,000 P80,000 Answers: 1. COGS, ; Gross profit, 2. Sales, ; Operating expenses,

Q: Name six cost categories that are important in managing goods for sale in a retail company.

A:

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A: Merchandising business is the one in which the entity deals in with goods / products.

Q: Discuss the difference in the operating cycle of merchandising and the service business

A: The operating cycle of merchandising and the service business will be explained :

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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.

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A: Inventory refers to current asset of the company as it held for sale purposes. It is stock or…

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Q: physical count of goods on hand is____

A: Inventory are sub divided into three part  A) Raw materials B) work in progress C) Finished goods.

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Q: How does a merchandising company calculate unit cost per item?

A: A Merchandising company is a type of company  who purchases goods from one company and sells the…

Q: Discuss the difference in the operating cycle of merchandising and the service business

A: To discuss the difference in the operating cycle of merchandising and service business we must…

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A: The value chain activities consists of the steps that are incurred in order to deliver a valuable…

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A: The cash collection cycle is the number of days it takes to recover accounts receivable. The…

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A:

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A: Operating cycle: The operating cycle is the period of time which is required to meet the initial…

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.