The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. The following is an excerpt from the final report Net revenue $ 343,000 Cost of goods sold 302,000 Value of production materials on hand 42,500 Value of work-in-progress inventory 69,000 Value of finished goods on hand 28,000 Compute the inventory turnover ratio (ITR). (Round 1 decimal place) Compute the weeks of supply (WS) (Do not round immediate calculation. Round 1 decimal place)
Customary Pricing
There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:
Multiple Unit Pricing
“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”
The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. The following is an excerpt from the final report
Net revenue $ 343,000
Cost of goods sold 302,000
Value of production materials on hand 42,500
Value of work-in-progress inventory 69,000
Value of finished goods on hand 28,000
- Compute the inventory turnover ratio (ITR). (Round 1 decimal place)
- Compute the weeks of supply (WS) (Do not round immediate calculation. Round 1 decimal place)
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