Advantage of a pre-inventory sale, Accounting Basics

Q. Advantage of a pre-inventory sale?

Have you still taken advantage of a pre-inventory sale at your favourite retail store Many stores offer bargain prices to decrease the merchandise on hand and to minimize the time and expense of taking the inventory. A smaller inventory as well enhances the probability of taking an accurate inventory since the store has less merchandise to count. From section 6 you know that companies use inventory amounts to determine the cost of goods sold this main expense affects a merchandising company's net income. In this section you learn how important inventories are in preparing a correct statement of retained earnings, income statement and balance sheet.

Posted Date: 7/6/2013 3:48:09 AM | Location : United States

Related Discussions:- Advantage of a pre-inventory sale, Assignment Help, Ask Question on Advantage of a pre-inventory sale, Get Answer, Expert's Help, Advantage of a pre-inventory sale Discussions

Write discussion on Advantage of a pre-inventory sale
Your posts are moderated
Related Questions
Can you explain to me how you did it? As well as putting it in a excel format but make it not take a lot of papers to print it out. A girl in my class said you can use a paint prog

SALES DISCOUNTS AND CASH RECEIPTS JOURNAL SALES DISCOUNTS Sales discount is recorded as a reduction in sales revenue.  CASH RECEIPTS JOURNAL Source documents: ca

Q. Can you explain about balance sheet? The balance sheet, sometimes called as the statement of financial position lists the liabilities, company's assets and stockholders' equ

Why it is important for independent auditor to be a member of a professional body?

he chairperson of the accounting department has three summer courses available: Accounting 201, Accounting 202, and Accounting 305. Twelve faculty members are available for assign

Define accounting.Briefly explain the accounting concepts which guide the accountants at recording stage

Explain the term - Overtime Pay This means a minimum of one and one-half times the regular rate of pay for all hours worked over 40 during the week. (Time and a half) A numbe

The process of adjusting the bond interest expense account for any premium or discount is called amortization of the premium or discount

when creating a trial balance, which account balances carry over from previous months

Q. Explain about closing process? Expense, revenue and dividends accounts are nominal (temporary) accounts that are merely sub classifications of a real (permanent) account Ret