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Criado por McKenzie Layton
quase 2 anos atrás
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Questão | Responda |
Specific identification method | This method calculates the cost of ending inventory by identifying each item remaining to invoice price, 478–479. |
Weighted-average method | Calculates the cost of ending inventory by applying an average unit cost to items remaining in inventory for that period of time, 479–480, 482. |
First-in, first-out (FIFO) method | This method assumes the first inventory brought into the store will be the first sold. Ending inventory is made up of goods most recently purchased, 480, 482. |
Last-in, first-out (LIFO) method | This method assumes the last inventory brought into the store will be the first sold. Ending inventory is made up of the oldest goods purchased, 481–482. |
Retail method | Method to estimate cost of ending inventory. The cost ratio times ending inventory at retail equals the ending cost of inventory, 483. |
Gross profit method | Used to estimate value of inventory, 484. |
Inventory turnover | Ratio that indicates how quickly inventory turns: |
Average inventory | Total of all inventories divided by number of times inventory taken, 484. |
Just-in-time (JIT) inventory system | System that eliminates inventories. Suppliers provide materials daily as manufacturing company needs them, 485. |
Overhead expenses | Operating expenses not directly associated with a specific department or product, 216, 485. |
Distribution of overhead | Companies distribute overhead by floor space or sales volume, 485–486. |
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