Inventory Essay Examples

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Inventory System Essay

1888 words - 8 pages CHAPTER I INTRODUCTION Background of the Study Inventory is basically the total amount of goods and materials held in stock by a factory, store and other business. An inventory system is a process whereby a business keeps track of the goods and material it has available. In its simplest sense it can be done manually by a count at the end of each day. In this way it is possible to keep a record of the goods coming in to the business and goods being sold. (Chapter 1 Inventory System, 2011) Since manual inventory consumes a lot of time and is prone to errors, it would be helpful to build a system that will computerize the transactions from acquisition of the product description to VIEW DOCUMENT
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System Inventory Essay

356 words - 2 pages University of Phoenix Material – Phineas Johnson System Inventory Select and complete one of the following assignments: Option 1: Virtual Organization System Inventory - Phineas Johnson has chosen Option 1. Option 2: General IT System Inventory Option 1: Virtual Organization System Inventory Select one of the following Virtual Organizations: • Smith Systems Consulting • Huffman Trucking • Kudler Fine Foods – Phineas Johnson has chosen Kudler Fine Foods. Complete the following chart, filling in information for each system used at that Virtual Organization. Add rows to the chart as necessary. |System Name |Brief Description |Department VIEW DOCUMENT
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Mi Inventory Essay

415 words - 2 pages MI Inventory Paper PSYCH 538 MI Inventory Paper Kathiann Kowalski (2001) contends, “When it comes to describing people's learning styles, one thing is clear: Because everybody's brain is different, learning styles vary widely” (para.4). Learning styles are an important aspect to individual learning. The ability to recognize personal learning styles and identify strengths and weaknesses enables individuals to reach optimal success. Optimizing personal learning style leaves room for improvement. Learning styles vary and not everyone learns the same way. It is beneficial to evaluate learning styles in order to be productive in any learning or work environment. In 1983 VIEW DOCUMENT
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Inventory Essay

7053 words - 29 pages REPORT Improved waste management of textiles Project 9 Environmentally improved recycling David Palm B1976 April 2011 This report approved 2011-04-20 Anna Jarnehammar Department Manager Organization Report Summary Project title IVL Swedish Environmental Research Institute Ltd. Address P.O. Box 5302 SE-400 14 Göteborg Telephone Towards Sustainable Waste Management – Environmentally improved recycling Project sponsor Swedish Environmental Protection Agency +46 (0)31-725 62 00 Author David Palm Title and subtitle of the report Improved waste management of textiles Summary In Sweden, we consume 15kg of textiles per capita and year. Of this roughly VIEW DOCUMENT
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Automate Inventory System Essay

1331 words - 6 pages Abstract This paper describes the Inventory Management System sufficiently to determine the feasibility and usability of a finished system. The core concept is to track the sale of items from the cash registers with additional features for interpreting the data. It uses a client-server model with a connected database to allow multiple stores and warehouses to be connected. This allows for later expansion while still supporting the targeted small businesses. The core features and final framework should be completed within 2 weeks, leaving 5 weeks to implement additional features and testing. 1. Operational Concepts The Inventory Management System is a real-time inventory VIEW DOCUMENT
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Ethical Lens Inventory Essay

515 words - 3 pages Results of my Ethical Lens Inventory and Career Plan Building Activity: Aptitude My results in the Ethical Lens Inventory and Career Plan Building Activity: Reasoning Aptitude, came as no surprise. I feel that they both reflect my personality along with how I academically do things. I believe these both will help me in the near future. I think my results in the Ethical Lens Inventory had a great perspective of who I am. My ethical behavior is doing the right thing, which I agree, because I hold strong standards for myself. My values, core and classical, state that I see how the community as one should work together in order to achieve the best outcome. I also value the individual VIEW DOCUMENT
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Life Style Inventory Essay

1083 words - 5 pages Guided By: - Romuald Stone Date: - 09/10/2015 Guided By: - Romuald Stone Date: - 09/10/2015 Life Styles Inventory Prepared By: - Amar ShahPatel Mgmt-591 leadership and organizational behaviour Life Styles Inventory Prepared By: - Amar ShahPatel Mgmt-591 leadership and organizational behaviour Life Style Inventory The “Life Styles Inventory” (LSI) is based around the Human Synergistics Circumplex, describing Constructive, Passive/Defensive and Aggressive/Defensive behaviours. It provides for self-description. Part I- Personal Thinking Styles What are your "primary" (highest percentile score) and "backup" (second highest percentile) personal thinking styles as shown in your VIEW DOCUMENT
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Personal Worldview Inventory Essay

1724 words - 7 pages Personal Worldview Inventory Susan Anne Doy Grand Canyon University: HLT 310V October 4th 2015 Personal Worldview Inventory Each individual has a personal view of the world that has been influenced by things such as: upbringing, education, religion, life experiences and relationships. In the modern worldview, there is little thought given to the mind or soul as this is something invisible and so is not measureable. The postmodern view sees people as energy that can be manipulated to restore balance. The Christian worldview believes that we have been created by God in his image (Shelly & Miller, 2006). Spirituality, religion and personal beliefs surrounding worldview questions, can VIEW DOCUMENT
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Inventory Management System Project Proposal Essay

4132 words - 17 pages Letter of Transmittal: Venice Art and Ceramic Titles Company Ltd. 692500 Sovetskaya Avenue, Ussuriysk, Russia 75226 8 924335 95 55 April 29, 2010 Mr. Alexey Morgunov, the Managing Director Venice Art and Ceramic Titles Company Ltd. 17 Pushkina St, Ussuriysk, Russia 6925191 Dear Mr. Alexey Morgunov: Enclosed is a copy of an Inventory Management System proposal that I completed during the fall of last year upon a request that was made to me by the IT Department Board. The main objective of the proposal was to analyze the operations of the Inventory Management system that is currently in use and come up with some its weaknesses and strengths. An integration of both would VIEW DOCUMENT
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Barilla - Supply Chain Inventory Management

467 words - 2 pages Barilla - Supply Chain Inventory Management Barilla TABLE OF CONTENTS EXECUTIVE SUMMARY 3 ISSUES IDENTIFICATION 3 ENVIRONMENTAL AND ROOT CAUSE ANALYSIS 3 ALTERNATIVES AND/OR OPTIONS 3 RECOMMENDATION AND IMPLEMENTATION: 3-4 Executive Summary: In an attempt to control inventory swings, reduce costs, and improve sales we have introduced the JITD initiative. This initiative has been a failure from the beginning and there is no point salvaging it. We need to abandon the JITD initiative and focus on a new strategy that seems like a more logical and promising approach. Issues Identification: The VIEW DOCUMENT
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Accounting

1555 words - 7 pages CHAPTER 6- Cost of Goods Sold and Inventory CHAPTER OUTLINE Nature of Inventory and cost of goods sold Inventory represents products Held for resale and is classified as a current asset on the balance sheet. When companies sell their inventory to customers, the cost of the inventory becomes an expense called cost of goods sold. Cost of goods sold, cost of sales, or cost of merchandise sold, represents the outflow of resources caused by the sale of inventory and is the most important expense on the income statement of companies that sell goods instead of services. Sales Revenue (Cost of Goods Sold) Gross Margin Gross margin indicates the extent to which the resources VIEW DOCUMENT
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Mooreman's Hardware

504 words - 3 pages DEPARTMENT OF ACCOUNTANCY UNIVERSITY OF ILLINOIS MEMORANDUM TO: Mooreman’s Hardware FROM: Alex Gebert DATE: March 5, 2013 SUBJECT: Evaluation of Mooreman’s Hardware’s Inventory Controls Objectives The inventory acquisition control objectives of Mooreman’s Hardware help ensure the company goals of customer satisfaction, quality inventory, and accurate inventory levels are being met. Mooreman’s purchasing techniques ensure that the necessary amount and the correct type of inventory are being purchased. By doing so, Mooreman’s various store locations maintain adequate inventory levels to satisfy customer demand. The receiving techniques used by Mooreman’s ensure that incoming VIEW DOCUMENT
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Accounting For Inventories

469 words - 2 pages ACCOUNTING FOR INVENTORIES For Merchandising Firms Inventories are valued at cost, net of discounts, and including transportation and other costs (ie: import duties) to prepare the goods for sale. Buying Inventory: * DR Merchandise Inventory, CR Cash/Accounts Payable Selling Inventory: * DR A/R or Cash, CR Revenues * DR Cost of Goods Sold Expense, CR Merchandise Inventory Lower of Cost or Market (LOCOM): * Inventories can sometimes decrease in value while stored due to market conditions, obsolescence or damage * Accounting standards require firms to subject their inventories to an impairment test at fiscal year-end and, where the FMV &lt VIEW DOCUMENT
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Finance

3301 words - 14 pages Impact of Inventory management on the profitability of Square Pharmaceuticals Ltd. 1. Introduction: Inventory is one of the factors that can control to improve business profitability. The way source and manage inventory can impact the different profit levels of income statement. Ignorance of how to use inventory advantage prevents you from maximizing operational efficiency. 2.1. Overview of the Company: SQUARE today is a name not only known in the Pharmaceutical world, it is today a synonym of quality- be it consumer product, toiletries, health products, textiles, agro vet products, information technology and few more. All these were possible due to his innovative ideas VIEW DOCUMENT
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Final Exam

1182 words - 5 pages ------------------------------------------------- Accounting Principle Final Exam ------------------------------------------------- Date :December 5, 2011 Exam consists three part with 100 points Part I T/F – Please read the question careful and answer T for True and F for False 1.If the unit price of inventory is increasing during a period, a company using the LIFO inventory method will show less gross profit for the period, than if it had used the FIFO inventory method. 2.Under a perpetual inventory system, the cost of goods sold is determined each time a sale VIEW DOCUMENT
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Service Request Sr-Rm-001

1813 words - 8 pages Service Request SR-RM-001 Paper CIS207 April 5, 2012 David J. Henry Service Request SR-RM-001 Riordan Manufacturing Company presents itself as a solutions provider of polymer materials. As with any large organization, oftentimes business executives seek the consult of external subject matter experts to help companies operate more efficiently. Riordan recently solicited the SHWS Consulting Group and its constituents to review Riordan’s current inventory and manufacturing systems and processes. After spending several weeks with Riordan and visiting each site, the consultants recognized opportunities to improve key areas of the company’s systems supporting its inventory and VIEW DOCUMENT
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Produce Managêmnt

2281 words - 10 pages Coporation in Galveston, Taxas. The case concentrates on the conversation between Melaney and his son about the company’s inventory level and ways to manage goods orders of the upcoming spring seaso. So far, the company has changed the method of managing orders through purchasing the Rytech computer system, nevertheless, it seems that Joe Father has not totally trusted this system. Rytech system is expected to reduce the level of inventory by 30% through the method Economic Order Quantity (EOQ) applied in the period of re-ordering each product. This solution is based on the fact that Toro is now having three fixed ordering times in a year. However, Joe Father only trusts his VIEW DOCUMENT
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Confetti

449 words - 2 pages CP: What alternative control measures should Mrs. Bello impose in order to control the records and transactions in all her store branches? MP: How to go about the time-consuming physical counting procedure or how to keep track of inventory more conveniently? How to have harmonized daily cash deposits with the tally on the sales notebook? How can Mrs. Bello avoid occurrences of fraud among her employees? Objectives: -To have effective control measures. -To minimize losses. -To have a convenient inventory tracking procedure/system. -To have coordinated tally and cash deposits -To eliminate fraud in the workplace ACA: 1: Hire employees that will work as record keepers of inventory, separate VIEW DOCUMENT
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Acc 205 Week 3 Assignment B

1906 words - 8 pages 1. Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows. Painting Cost 1/2 Beginning inventory Woods $21,000 4/19 Purchase Sunset 21,800 6/7 Purchase Earth 31,200 12/16 Purchase Moon 4,000 $78,000 Woods and Moon were sold during the year for a total of $35,000. Determine the firm’s a. cost of goods sold. Woods $21,000 Moon $4,000 $25,000 b. gross profit. Sales 35,000 CGS 21,000 $4,000 25,000 Gross profit 10,000 c. ending inventory. Beginning VIEW DOCUMENT
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Beats

1125 words - 5 pages Citizenship: Yes, American Citizen Special Hiring Authority: 10 point Veteran preference Federal Experience: Yes, United States Air Force Logistic Service Technician for Inventory Management Clearance: Secret Security Clearance (Inactive) Objective To obtain a full time position in public service with Defense Contract Management Agency as Supply Management Specialist for job announcement number SWH89Y141405261194735D Education University of Phoenix [2011-2014] Currently attending the University of Phoenix to obtain a Bachelors degree in Business Management. Skills Focused and highly motivated Logistic Inventory Management Specialist professional, with VIEW DOCUMENT
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Rewritten Memo Bcom230

270 words - 2 pages interoffice memorandum to: | Executive Vice President | from: | Aftden white & teammates | subject: | Last in/First out & first in/first out | date: | February 5, 2013 | | | | | In response, to the request of inventory methods of Last In/ First Out and First In/ First Out overview. The team researched and discussed the contrast between the two inventory methods.. The choice of Last In/ First Out and First In/First Out will influence the profit and loss statements. The company should continue with using Last In/ First Out if the costs remain the same, but we should move to First In/First Out if the costs increase, as expected. The question of whether the company’s VIEW DOCUMENT
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The Case Of Unidentified Firms

352 words - 2 pages Fundamentals of Finance Unidentified Balance Sheet 1. Electric Utility - B Reasons: Usually an Electric Utility company have very less inventory and much more property and equipment compared to other companies. Also, their net profits/new sales is the highest compared to other companies. Collection period is one and a half month (that is the collection period of the bills), The profit margin is also the highest because of lower costs. 2. Japanese Trading Company - D Reasons: A trading company would have the lowest value of property and equipment, while their Amount Receivables will be the highest. Comparing the ratios, they have the highest Inventory Turnover, which means VIEW DOCUMENT
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Sales

377 words - 2 pages the manual way in running their business. By using the manual way, they consume more time and energy just to finish their work. So, companies now are making their system computerized because this can help them minimize the time and efforts consumed by using manual-system. So, we decided to create a sales and inventory system. A sale is an activity involved in the selling of products or services in return for money or other compensation. It is an act of completion of a commercial activity while inventory A list of what you have in company accounts. Inventory usually refers to the value of stocks, as distinct from fixed assets. An inventory would include items which are held for sale in VIEW DOCUMENT
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Fd Dg A

630 words - 3 pages . These issues are compounded by a patchwork of systems—some that are designed specifically for the services supply chain, and some that are borrowed from the main business, with little customization available for service-specific needs. These challenges result in a services supply chain that protects service levels by storing a large amount of expensive inventory in a central location. Virtual inventory pooling offers a way to dramatically cut inventory holdings across the service chain. Inventory pooling works by reducing inventories downstream and holding inventories in shared pools upstream. These shared pools can be quickly dispatched to any downstream location that faces a risk of stockout VIEW DOCUMENT
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Dubins

518 words - 3 pages to inventory? 2. In your opinion, what costs should be included in Dobbin’s inventory and why? In my opinion,the cost of barrels and warehousing should be included in Dobbin’s inventory. Because the maturing or aging process also belong to the part of manufacturing process. The whiskey was not ready for sale until it was aged and therefore the aging barrel needed to be included in product cost. As inventory costs include all the direct costs involved in the production process till the finished goods. 3. Assuming Dobbins decided to charge barrel costs (but not other warehousing and aging costs) to inventory, what 1988 income statement items would change? What asset amounts on the VIEW DOCUMENT
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Financial Analyisi

322 words - 2 pages Liquidity Group Martin Manufacturing should not have a hard time meeting their current financial obligations in the near future. With an improving trend in current ratio over the last three years(1.7, 1.8, 2.49), and a current ratio for the current year of 2.49, which is 66% higher than the industry average of 1.5. This tells me that Martin manufacturing has $2.50 in current assets for every $1.00 it owes in current liabilities. The quick ratio doesn’t really have a trend(1, .9, 1.35) over the last three years, but the current years quick ratio of 1.35 is higher than the industry average of 1.2. The Quick Ratio implies that Martin has $1.35 in current assets excluding inventory for VIEW DOCUMENT
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The Four

288 words - 2 pages The Four Basic Areas: Corporate Finance, Investments, Financial institutions, International Finance. Agency problem- inherent conflicts of interest Formals Assets=Liabilities + Shareholders’ Equity, Income =Revenues – Expenses, Current Ratio=Current Assets/Current Liabilities, Quick ratio or acid-test ratio= (Current Assets – Inventory)/ Current Liabilities Cash Ratio= Cash/ Current Liabilities Total debt= (Total Assets- Total Equity)/ Total Assets, Debt/equity ratio= Total Debt/ Total Equity, Equity Multiplier= EBIT/Interest, Cash coverage ratio= (EBIT + Deprecation/ Interest) ,Inventory turnover= Cost of Goods Sold/ Inventory ,The average number of days’ sales in inventory= 365 VIEW DOCUMENT
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Hampton Company Analysis

569 words - 3 pages Leach-Melicher Ch. 6 - Problems Unfortunately, the textbook provided an electronic table 6.2 (which is on the final page of this handout) containing typos--the physical text contains a correct version.  Specifically, in Schedule 3 you can see the beginning inventory is incorrectly input (it seems that the first one or two digits are dropped); it should be equal to the ending inventory from the previous period.  Otherwise it looks OK, including the calculated amount of actual purchases. 1. [Short-Term Financial Planning] The PDC Company was described during the early part of this chapter. Refer to the PDC Company’s projected monthly operating schedules in Table 6.2. PDC’s sales VIEW DOCUMENT
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Om Session 5 Assignments

611 words - 3 pages OM Assignments 5 Q1. Is there any evidence that Barilla faces the bullwhip effect? If so, what causes of the bullwhip of the bullwhip effect are present? The bullwhip effect is an observed phenomenon in forecast-driven distribution channels. It refers to a trend of larger and larger swings in inventory in response to changes in customer demand. We believed there was a bullwhip effect in this case. We found the evidence from Exhibit 12 which showed the mean of the orders from Cortese Northeast DC to Pedrognano CDC was 300 while the standard deviation was only 227, the gap was 73. Because customer demand is rarely perfectly stable, businesses must forecast demand to properly position VIEW DOCUMENT
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Business

446 words - 2 pages Problem the organization is facing Inventory problems the hospital is facing are the inability to track in and out properly all of the items currently on hand. There have been several instances that have occurred where the stock in hand and the stock listed in the computer varied. The difference in stock is a result of possible theft, mismanagement, or inaccurate record keeping. Currently the organization is relying on its computer system to have an accurate log of all medication or stocks received, dispensed, and stored based on the doctors’ setting. However, the computer system is prone to human errors and malfunctions within the system. The inability to keep proper records not only VIEW DOCUMENT
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Supply Chain

485 words - 2 pages types of printers. Transportation and customs clearance take one week if air is used as the mode of transport; the same will take four weeks if sea is used as the medium of transport. Freight by air will be Rs360 per unit while freight by sea will be Rs.90 per unit. The annual inventory-carrying cost for the firm is 20 per cent of the cost of the item. The firm wants to decide on the optimum mode of transport. The relevant calculations for high end products are shown below. Product Mode of Transport Cycle stock (units) Pipeline inventory (units) Average inventory Inventory carrying cost (thousand rupees) 2,400 600 1,800 450 1,200 300 Transportation Total cost costs per (thousand annum rupees VIEW DOCUMENT
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Strategy - Boston Beer

271 words - 2 pages ROE. Therefore, the high ROE from Pete’s and Boston Beer can be explained by their strategic approach of contract brewing. Observation #2) Boston Beer and Red Hook have similar Total Assets, but, Boston Beer sells about eight times more barrels than Red Hook. Because Boston Beer uses contract brewing, majority of their assets is their inventory (raw materials, beer, etc). This can be observed by the fact that Red Hook has twice the inventory turnover than that of Boston Beer, yet their assets are similar. Red Hook brews their own beer, and so majority of their Assets are their breweries, not their inventory. Boston Beer on the other hand, source out their brewing, so they have low asset numbers like that of a smaller brewing company such as Red Hook. Also, the low asset turnover number means they have tons of inventory in stock and it can be deduced that it makes up most of their Assets. VIEW DOCUMENT
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Managerial Acc - Ch12

337 words - 2 pages 13 Questions 13-1 The income statement reports the accrual-basis consequences while the statement of cash flows reports the cash-basis consequences of the operating activities Exercise 13-19 a. Total units sold = 70 + 60 + 60 = 190 Total units in ending inventory = 60 FIFO ending inventory = (60 × 15) = $900 FIFO cost of goods sold = $2,500 b. LIFO ending inventory = 60 × 12 = $720 LIFO cost of goods sold = $2,680 c. Total cost of goods available for sale = 1,200 + 700 + 1,500 = $3,400 Total units available for sale = 250 Weighted average cost of goods sold = 190 × $13.60 = $2,584 Weighted average ending inventory = 60 × $13.60 = $816 Weighted average cost per unit = 3,400 ÷ 250 = $13.60 13-26 a) This would be recorded in 2008 because it is recorded when it is sold b) Estimated warranty costs should be expensed in the year of sale, therefore in 2007. c) Bad debts should match the expenses of the year of sale, therefore in 2007. d) Research and development costs should be expensed in 2007. VIEW DOCUMENT
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Cost Control

822 words - 4 pages ways to grow the business. But too often these discussions fail to address costs. By discussing costs holistically up and down the combined supply chains, customers often can recommend ways to reduce costs. For example, how to take wasted steps out of the process, or how to plan jointly to smooth production, or maybe even how to change the product mix to get rid of costly items and replace them with some that are more profitable. Talking to the customer is never a bad thing. But talking about how to jointly improve business deepens the relationship, shows them you care, and helps reduce costs for both parties. 3) Match terms with turns. Each item in your inventory moves at a VIEW DOCUMENT
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Financial Analysis

765 words - 4 pages Executive Summary: After comparing Western Digital (WDC) and Seagate (STX) using specific ratio analysis, the following conclusions can be drawn. WDC is more effective at managing its debt obligations then its competitor by a wide margin. Specifically, our assets are considerably lower in amount financed by debt and we earn a wider dollar margin on our interest expenses owed. However, WDC has evident mismanagement of its assets in comparison to its competitor. I believe that this can be attributed to the fact that we keep too much inventory on hand. Keeping too much inventory on hand can be traced to a lower quick ratio, return on assets ratio, and inventory turnover ratio compared to our VIEW DOCUMENT
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Blue Company Final

954 words - 4 pages activities. Also, this company needs to engage in a system of checks and balances among each department to ensure validity, accuracy and completeness. Analysis The first step in the expenditure process may create issues. All the employees should not have access to create a purchase requisition. For example, how can an employee that works in the cash disbursement department know about the inventory levels and make a purchase requisition. BLUE Company is lacking an inventory control department; this needs to be incorporated. BLUE Company should limit the number of employees with the access to create a purchase requisition within the inventory control department. Unauthorized access exposes VIEW DOCUMENT
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Accounting Notes

4145 words - 17 pages : 1. Income Statement 2. Statement of Owner’s Equity 3. Balance Sheet 4. Statement of Cash Flows Merchandising Operations The two main accounting systems used for merchandise inventory are the periodic system and the perpetual system. The major difference between the two is the availability, within the accounting records, of an up-to-date (and therefore reasonably accurate) value for merchandise inventory on hand. Gross Margin = Sales - Cost of Goods Sold (COGS) Cost of Goods Sold (COGS)= Beginning Inventory + Purchases -Goods Available for Sale – Ending Inventory Note: Beginning inventory was $100,000 Perpetual System | Periodic System | 1- Credit Purchases VIEW DOCUMENT
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Parts Emporium

1331 words - 6 pages Chapter 13: Parts Emporium* A. Synopsis This case describes the problems facing Sue McCaskey, the new materials manager of a wholesale distributor of auto parts. She seeks ways to cut the bloated inventories while improving customer service. Backorders with excessive lost sales are all too frequent. Inventories were much higher than expected when the new facility was built, even though sales have not increased. Summary data on inventory statistics, such as inventory turns, are not available. McCaskey decides to begin with a sample of two products to uncover the nature of the problems—the EG151 exhaust gasket and the DB032 drive belt. B. Purpose The purpose of this case is to allow the VIEW DOCUMENT
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Personal Ethical Statement

416 words - 2 pages After completing the “Ethical Lens Inventory” I have found that I do not have a preferred lens. It told me that I am able to move between each lens and be able to use the correct tools in order obtain the best situation that is needed. I can really understand this result because I tend to be a person that can reason with almost anyone and I am big on equality for everyone no matter who they are. I also tend to be the person that many people go to when they are stuck in a situation and don’t know the best route to get them out of it. The results from the inventory state that I do not have a blind spot. If I understand this result correctly I would have to agree because when working in a VIEW DOCUMENT
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I Am The One!

399 words - 2 pages entering the world of accounting. Inventories are asset items held for sale in the ordinary course of business or good that will be used or consumed in the production of goods to be sold. That sounds very interesting doesn’t it? Well let’s think about that for a second. Companies like Wal-Mart have billions of dollars put into inventories and they need to make sure that it is properly accounted for so they do not become the next ENRON of the world. Wal-Mart gets their inventory in a ready to sell state. That means no extra cost goes into getting it ready to put on the shelf. So when a Wal-Mart accountant takes in invoices of merchandise purchased the price Wal-Mart paid was the amount VIEW DOCUMENT
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Week 4

1846 words - 8 pages to any job not completed at year end in order to properly value the work in process inventory. | |   | Student Answer: | | Only statement I is true. |   | | | Only statement II is true. |   | | | Both statements I and II are true. |   | | | Statements I, II, and III are all true. |   | Instructor Explanation: | Chapter 3 | | |   | Points Received: | 6 of 6 |   | Comments: | | | |  6. | Question : | (TCO F)  Under a job-order costing system, the product being manufactured | |   | Student Answer: | | is homogeneous. |   | | | passes from one manufacturing department to the next before being completed.  |   | | | can be custom VIEW DOCUMENT
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Proposal Of Controls For Inflows

1897 words - 8 pages Proposal of Controls for Inflows Every company needs an adequate internal control system to minimize the risk of errors in the company’s accounting figures, attempts of fraud, and to ensure that the company abides to their production and managerial policies and procedures. Promoting employee efficiency remains important and helps keep investors apprised of the operations within the company and ensures they understand the company’s financial standing with regard to the integrity of its internal control system. Following is a proposal depicting a design of the internal controls for the inflows of a company that include cash, sales, accounts receivable, inventory, and production. Cash Key VIEW DOCUMENT
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Riodan Manufacturing

2207 words - 9 pages ratio, cost-effective transportation, reduced levels of inventory, decreased wastage, and the implementation of an Enterprise Resource Planning. In this study, there will be a review of Riordan Manufacturing’s operational strategy and an addition of the topic of process design to it. “The process design includes the selection of appropriate technology, sizing the process over time, the role of inventory in the process, and locating the process” with quality management as its main focus (Chase, Jacobs, & Aquilano 2006, p. 24). A proposal for a Process Design for Riordan Manufacturing in regard to the electric fans system will be given. It will include Material Requirements Planning for the VIEW DOCUMENT
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Leeds Inc

1979 words - 8 pages Case Report: Saw Blades at Leeds Team II Raj Pandit Tiffany Rongey Jacob Tramontin Julian Vu Executive Summary This case examines the use of relevant and irrelevant costs to determine whether Leeds should continue production of Carbide blades, and whether or not to introduce composite blades. From our analysis, we have developed seven possible scenarios for the company, and have determined that our last scenario would most effectively utilize the remaining carbide inventory, while progressively entering the composite blade market. Background Leedsworks, Imperial Optronics PLC is the worldwide leader in the dry-cut lens processing VIEW DOCUMENT
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Evsc

725 words - 3 pages Week 3 Individual John Clark OPS/TM571 March 26, 2012 Robert Wolf The simulation is broken down into a series of situations and provides suggestions throughout the inventory management system within the Elms Valley SurgiCare Center (EVSC). The simulation helps to demonstrate how cycle service level, lot sizes and safety stock have the influence to impact inventory cost. The data presented was used to calculate inventory levels as followed: I under-estimated the stock on hand quantities, over-estimated the demand for the gloves and also over-estimated the quantities ordered for the surgical gloves. Both EOQ’s were shown to be less than optimum per the simulations standards, but VIEW DOCUMENT
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Lead Time Management At Littlefield Labs

642 words - 3 pages Lead Time Management at Littlefield Labs Background Littlefield Laboratories has opened a new blood testing lab. This laboratory uses the same process as the lab encountered in your prior assignment, Capacity Management at Littlefield Labs—neither the process sequence nor the process time distributions have changed. The lab began operations with a raw materials inventory of 160 kits and $1,000,000 cash. Customer demand continues to be random, but the expected daily demand will not change during the lab’s life span. Expert advisors know that demand will end abruptly on Day 268 and the lab will no longer be necessary. Any remaining machinery or inventory will be useless after Day 268, and VIEW DOCUMENT
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Gun Company Comparison

625 words - 3 pages | Receivable Turnover | 9.3 | 9.53 | 1.92 | Inventory Turnover | 8.22 | 3.76 | 8.39 | Asset Turnover | 2.05 | 1.26 | .56 | Which company appears to have the most productive employees? The company with the most productive employees is SWHC. Out of the three companies, their employees produce the highest income and revenue per employee. SWHC’s employees produce almost 10k of income and 50k of revenue more than the nearest competitors that were compared. Which company has the best operations and supply chain process? The company with the seemingly better operations and supply chain process is OA because it has the higher Inventory Turnover ratio. This ratio measures sales over inventory VIEW DOCUMENT
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Mis Project

320 words - 2 pages In this exercise, you will use database software to design a database for managing inventory for a small business. Sylvester’s Bike Shop, located in San Francisco, California, sells road, mountain, hybrid, leisure, and children’s bicycles. Currently, Sylvester’s purchases bikes from three suppliers, but plans to add new suppliers in the near future. This rapidly growing business needs a database system to manage this information. Initially, the database should house information about suppliers and products. The database will contain two tables: a supplier table and a product table. The reorder level refers to the number of items in inventory that triggers a decision to order more VIEW DOCUMENT
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Financial Analysis Final Report

909 words - 4 pages TEAM NAMES EXAM FINANCIAL ANALYSIS BEGINNERS BALANCE SHEET INTANGIBLE ASSETS TANGIBLE ASSETS FINANCIAL ASSET INVENTORY ACCOUNT RECEIVABLE BANK CASH 100,000 1,630,000 3,670,000 16,610,000 4,960,000 240,000 140,000 27,350,000 ACCOUNT PAYABLE SUPPLIERS ACCOUNT PAYABLE STATE ACCOUNT PAYABLE OTHERS 1,840,000 3,440,000 1,510,000 27,350,000 COMMON STOCK RETAINED EARNINGS LTB 7,000,000 560,000 13,000,000 P/L TURNOVER COGS GROSS MARGIN OVERHEAD ADDED VALUE TAX/WAGES EBITDA DEPRECIATION 25,030,000 9,000,000 16,030,000 2,810,000 13,220,000 13,890,000 -670,000 -300,000 FINANCIAL RESULT -340,000 RESULT BEFOR TAXES -1,310,000 EXAM FINANCIAL ANALYSIS BEGINNERS 1. What would you say on the VIEW DOCUMENT
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Financial Overview

684 words - 3 pages Going Green Recycling Center Financial Overview Date: FY1 FY2 Ordinary Income Processing Tipping Fee $814,020.00 $826,230.30 Grants 0.00 0.00 Program Service Fees 254,048.00 257,849.00 Sales Revenue 689,384.00 720,669.00 Investment Income 0.00 0.00 Inventory 0.00 0.00 Other Sales 5,665.25 5,835.21 Total Income $1,763,117.25 $1,810,583.51 Cost of Goods Sold 65.94 67.92 Freight 0.00 0.00 Total Income and Goods Sold 65.94 67.92 Gross Profit $1,763,051.31 $1,810,515.58 VIEW DOCUMENT