Required informationProblem 6-1A (Algo) Calculate ending inventory and cost of goods sold for four inventory methods (LO6-3)[The following information applies to the questions displayed below.)Sara's Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sara'sBoutique uses a periodic inventory system.DateOctober 1TransactionsBeginning inventoryUnits6Unit CostTotal Cost$700$4,200October 4Sale4October 10Purchase57103,550October 13Sale3October 20Purchase47202,880October 28Sale7October 30Purchase87305,840$16,470Problem 6-1A (Algo) Part 22. Using FIFO, calculate ending inventory and cost of goods sold at October 31.Ending inventoryCost of goods sold

Step 1: Periodic inventory valuation is a method of inventory valuation where inventory is valued at…

Answered: Required information Problem 6-1A…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Describe the key principles of the Wilson approach in inventory management.
University Drug Pharmaceuticals orders its antibiotics every two weeks (14 days) when a salesperson visits from one of the pharmaceutical companies. Tetracycline is one of its most prescribed antibiotics, with average daily demand of 2,000 capsules. The standard deviation of daily demand was derived from examining prescriptions filled over the past three months and was found to be 800 capsules. It takes f ive days for the order to arrive. University Drug would like to satisfy 99 percent of the prescriptions. The salesperson just arrived, and there are currently 25,000 capsules in stock.How many capsules should be ordered?
19. SPRAY-PAINT INVENTORY The Graphic Hobby House made purchases of assorted colors of spray paint during the year as follows. Beginning inventory 200 cans at $2.20 March 400 cans at $2.40 May 700 cans at $2.00 August 500 cans at $2.30 November 300 cans at S2.60 At the end of the year, they had 450 cans of spray paint in stock. (a) Find the inventory value using the weighted-average method. (b) Find the inventory value using the FIFO method. (c) Find the inventory value using the LIFO method.
Pls solve this question correctly in 5 min i will give u like for sure Question # 1 Teresa Cohan is attempting to perform an inventory analysis on one of her most popular products. Annual demand for this product is 5,000 units; unit cost $200; carrying cost is considered to be approximately 10% of the unit price. Order costs for her company typically run nearly $30 per order and lead time averages 10 days. Discounted unit cost of Rs. $150 (carrying cost remain the same) for more than 300 units is also being offered. (Assume a 50-week year. a)What is economic order quantity? b)What is the reorder point? c)What is the total carrying + ordering cost? d)What is optimal number of orders per year? e)Would you recommend availing the discount?
The seasonal demand for a particular product is given below: Period 123 4 5 6 Demand 300 450 100 450 450 100 The fixed parameters are: Fixed Cost $8 Unit Production Cost $1 Holding Cost $1.3 Calculate total ordering cost using following three methods: i) Lot-for-Lot ii) Wagner-Whitin algorithm iii) Fixed order quantity
P3-9 Earthbound Corporation is a manufacturer and distributor of air conditioning system. You have been engaged to install an accounting system for Earthbound. Among the inventory control features Earthbound desires as part of the system are indicators of "how much' to order and "when." The following information is furnished for a product called "Hydronix" which is carried in inventory: Hydronix are sold by the gross (twelve dozen) at a list price of P800 per gross FOB shipper. John receives a 40% trade discount off list price on purchases in gross lots. Freight cost is P20 per gross from the shipping point to John's plant. John uses about 5,000 Hydronix during 259-day production year and must purchase a total of 36 gross per year to. allow for normal breakage. Minimum and maximum usages are 12 and 28, respectively. It takes 20 working days (normal delivery time) to receive an order from the date the purchase request is initiated. A rush order in full gross lots can be received by air…
21- Which one of the following represent FIFO method of inventory evaluation? a. Old items remain in inventory b. Old merchandise is sold first c. New merchandise is sold first d. Average number of goods are sold
Short answer question
Demand forecasting and planning is not a part of inventory management function. Select one : 1.True 2.Fales
EOQ, reorder point, and safety stock Alexis Company uses 916 units of a product per year on a continuous basis. The product has a fixed cost of $60 per order, and its carrying cost is $3 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days' usage in inventory as a safety stock. a. Calculate the EOQ. b. Determine the average level of inventory. (Note: Use a 365-day year to calculate daily usage.) c. Determine the reorder point. d. Indicate which of the following variables change if the firm does not hold the safety stock: (1) order cost, (2) carrying cost, (3) total inventory cost, (4) reorder point, (5) economic order quantity. a. Alexis' EOQ is units. (Round to the nearest whole number.)
Among the following multi-period inventory models, which one has the highest probability of stockout? A. Fixed Order Quantity with Safety Stock B. Fixed Time Period Model C. Fixed Order Quantity D. Both Fixed Order Quantity & Fixed Order Quantity with Safety Stock
A clothing manufacturing company requires raw materials for 8 consecutive weeks as follows: 30, 40, 50, 35, 60, 30, 40, and 30 units with a one-time order cost of $50,000 and a storage fee of $500 per unit/week. From these data calculate the total cost of procurement using:a. Lot For Lot (LFL) Methodb. Economic Order Quantity (EOQ) Methodc. Period Order Quantity (POQ) Method Using this table format: Week 1 2 3 4 5 6 7 8 Gross requirements Schedule receipts Projected on hand Net requirements Planned order receipts Planned order releases

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