If a physical inventory was taken in January and the actual inventory is $209,400, is there...
If a physical inventory was taken in January and the actual inventory is $209,400, is there a shortage or overage and by how much in dollars? Net sales for the year is $153,800.
- January BOM $215,480
- January Sales $26,675
- January Markdowns $24,485
- January Receipts $48,500
Homework Answers
Solution:
EOM Stock = [BOM - Net Sales - Net Markdowns + Net Receipts]
EOM Stock = 215,480 - 26675 - 24,485 + 48,500 = 212,820
Actual inventory = 209,400
Shortage = 212,820 - 209,400 = 3,420
Percentage : 3,420 / 153,800 * 100 = 2.22%
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If a physical inventory was taken in January and the actual
inventory is $209,400, is there...
If a physical inventory was taken in January and the actual inventory is $209,400. Net sales...
If a physical inventory was taken in January and the actual inventory is $209,400. Net sales for the year is $153,800. What is the shortage or overage percentage? January BOM $215,480 January Sales $26,675 January Markdowns $24,485 January Receipts $48,500
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Inventory was taken and the count was $2,316,000. Is there a shortage or overage and by how much in percentage if the ne...
Inventory was taken and the count was $2,316,000. Is there a shortage or overage and by how much in percentage if the net sales are $13,350,000? January sales are $688,000 January markdowns are 75.0% January receipts are $1,155,000 January returns to vendor are $136,000 January BOM is $2,956,000
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83 84 9. 85 Given the following conditions determine: 86 A. Is there an inventory shortage or overage? 37 B. The inventory shortage or overage %: Retail opening inventory $325,000.00 gross purchases $165,000.00 returns to vendors $25,000.00 net purchases transfers in $10,000.00 total merch handled gross sales $125,000.00 customer returns $20,000.00 net sales net markdowns $15,000.00 employee discounts $2,000.00 total retail deductions 101 closing book inventory 102 closing physical inventory $350,000.00 shortage /overage $ 104 shortage / overage % 100...
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