Information is accurate excess inventory example

Assignment Help Accounting Basics

Reference no: EM133650387

Question

Analyze and check if information is accurate excess inventory example " overstocked : Q-tips-100 boxes of Q-tips that represent $2000. The inventory turnover has a low-value rate for q tips and that represents overstocking. Now Q-Tips will not expire and there is not a situation that would arise where a vast amount of Q-Tips would be needed. If a hurricane or earthquake hits there are more than enough Tips. One box of Q tips is on automatic reorder at $20 a box. A closer evaluation is that an average of 1 Q tip is used a day, and each box has 100 so a box is used roughly about every three months. Therefore, there are enough boxes in the inventory for 36 months, and $20 is now cut from the inventory with a future savings of $720. Tips are not an item that vendors give on consignment as versus Oxygen. We pay for oxygen as it is used so it is not money sitting on a shelf or in a box."

Reference no: EM133650387

Questions Cloud

Entity prospects for future net cash inflows : Who needs information about the resources of the entity not only to assess an entity's prospects for future net cash inflows but also how effectively

Manufacture hot tubs : Park City Pools is examining if they should also manufacture hot tubs. They collect information and determine that if they do manufacture hot tubs,

Vendors give on consignment as versus oxygen : Tips are not an item that vendors give on consignment as versus Oxygen. We pay for oxygen as it is used so it is not money sitting on a shelf or in a box.

Present the business case for change : Present the business case for change, setting out why action on human rights will also add value to the company.

Information is accurate excess inventory example : Analyze and check if information is accurate excess inventory example overstocked : Q-tips-100 boxes of Q-tips that represent $2000.

Determine the cost for pair of each type of moccasin : Jodi sells hand-made moccasins at a local farmer's market. Determine the cost for a pair of each type of moccasin.

Real property management : What are three DoD policies related to Real Property Management

Alfonso silva needs additional filing space : Alfonso Silva needs additional filing space at the end of the year in the company's off-site, secured storage.

Explore the nasw code of ethics : Explore the NASW Code of Ethics and assess the role of a social worker in working with or treating individuals with ADHD and ASD (micro).

User Account

All Pages