Merchandise sale - Study guides, Class notes & Summaries

TN State Law Exam- Funeral Directing 2022 Questions and Answers This is the person who is legally entitled to authorize cremation, funeral service, and dispositions: authorizing agent Can a licensed funeral director authorize a cremation? NO This is the heating process where a body is reduced to bone fragments by combustion or evaporation? cremation This is the building that houses one or more cremation chambers this also includes the term "crematorium": crematory This is the preser...

________ is a set of activities and techniques firms employ to efficiently and effectively manage the flow of merchandise from the vendors to the retailer's customers. Consumer direct fulfillment Supply chain management Reverse logistics Backhaul Vendor-managed inventory - Supply chain management A ________ occurs when an SKU that a customer wants is not available. rain check backhaul reorder point stockout ship verification - stockout Overall, effective supply chain managem...

ACC 2024 Exam 2 Questions & Answers 2024/2025 FOB distribution definition - ANSWERSsellers responsible until it gets to the destination FOB Shipping point definition - ANSWERSMinute firm gets t-shirt to ship becomes customers shirt How to deal with sale discounts, returns and allowances, and credit card charges? - ANSWERSCompanies record sales discounts, sales returns and credit card discounts separately to allow management monitoring of these transactions What does Net sales consi...

IDIS 240 exam 2 with Complete Solutions FOB Free of board NPBT Net Profit before tax NPAT net profit after tax SGA selling general and administrative expense EBITDA earnings before interests taxes depreciation and amortization - raising prices increases earning but cutting cogs and expenses provides higher increase GMROII gross margin return on inventory investment EBIT earnings before interests taxes UOM unit of measure OEM original equipment manufacturer MRO m...

MAJOR FIELD TEST BUSINESS STUDY SET 2024 ;PERFECT WILL PASS!!!! Balance Sheet - Attempts to describe the financial condition of the firm at a point in time. Includes: Assets, Liabilities, & Equity - "net assets" what remains after deducting liabilities from assets.. Income Statement - Presents the results of the operations of an entity over a peroid of time. Includes: Revenues, Expenses, Income, Gains & Losses Statement of Equity or Statement of Retained Earnings (Capital) - B...

A correct answers QN=1 Merchandise inventory includes: a. All goods owned by a company and held for sale. b. All goods in transit. c. All goods on consignment. d. Only damaged goods. e. All goods in the stores of company. E correct answers QN=2 Costs included in the Merchandise Inventory account can include: a. Invoice price minus any discount. b. Transportation-in. c. Storage. d. Insurance. e. All of these. E correct answers QN=3 During a period of steadily rising costs,...

Merchandise inventory CORRECT ANSWER Goods purchased for resale to customers. Periodic Inventory System CORRECT ANSWER Businesses does not keep a continuous record of inventory on hand. A physical count will be taken at the end of the period to determine the cost of the ending balance and the cost of goods sold. What is the formula to calculate the available goods for sale? CORRECT ANSWER BEGINNING BALANCE + PURCHASES What is the formula to calculate the cost of goods sold? CORRECT ANSW...

Chapter 3—Consolidated Statements: Subsequent to Acquisition MULTIPLE CHOICE Scenario 3-1 Pedro purchased 100% of the common stock of the Sanburn Company on January 1, 20X1, for $500,000. On that date, the stockholders' equity of Sanburn Company was $380,000. On the purchase date, inventory of Sanburn Company, which was sold during 20X1, was understated by $20,000. Any remaining excess of cost over book value is attributable to patent with a 20-year life. The reported income and divi...

Cash Flow - Cash in bank > purchased inventory > sold inventory > accounts receivable > cash in bank List Price - The retail price listed selling price - list price - trade discounts Net price - = selling price - allowable discounts (cash discounts) Net Sale Cost of Good Sold (COGS) - = Cost of Merchandise + Freight from Manufacturer Trade Discounts - specify term of sale and change of price with how they see fit. Cash Discounts - given to encourage buyers to prom...

IDIS 240 Final Exam – Vestal Latest Version Graded A+ Cash Flow Cash in bank > purchased inventory > sold inventory > accounts receivable > cash in bank List Price The retail price listed selling price list price - trade discounts Net price = selling price - allowable discounts (cash discounts) Net Sale Cost of Good Sold (COGS) = Cost of Merchandise + Freight from Manufacturer Trade Discounts specify term of sale and change of price with how they see fit. ...