Concept explainers
BURT’S BEES, Durham, North Carolina
Burt’s Bees describes itself as an “Earth-Friendly, Natural Personal Care Company” that produces products for health, beauty, and personal hygiene. The company manufactures over 197 products distributed in nearly 30,000 retail outlets worldwide. As a merchandising company, Burt’s Bees follows its inventory closely. This requires monitoring the receipt, production, purchasing, and planning of inventory. At the end of each time period, Burt’s Bees must make
- 1. What type of inventory system do you think Burt’s Bees uses? Why?
- 2. Using the inventory system you selected in no. 1, what is an example of the type of
journal entry Burt’s Bees would make when purchasing merchandise on account? - 3. Using the inventory system you selected in no. 1, what journal entry would Burt’s Bees use to record the sale of merchandise on account?
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