TAILIEUCHUNG - Lecture Practical business math procedures (10/e): Chapter 18 - Jeffrey Slater

Chapter 18 - Inventory and overhead. In this chapter, the learning objectives are: List the key assumptions of each inventory method, calculate the cost of ending inventory and cost of goods sold for each inventory method, calculate the cost ratio and ending inventory at cost for the retail method, calculate the estimated inventory using the gross profit method, explain and calculate inventory turnover, explain overhead; allocate overhead according to floor space and sales. | Chapter 18 Inventory and Overhead List the key assumptions of each inventory method Calculate the cost of ending inventory and cost of goods sold for each inventory method Inventory and Overhead #18 Learning Unit Objectives Assigning Costs to Ending Inventory - Specific Identification; Weighted Average; FIFO; LIFO Calculate the cost ratio and ending inventory at cost for the retail method Calculate the estimated inventory, using the gross profit method Explain and calculate inventory turnover Explain overhead; allocate overhead according to floor space and sales Inventory and Overhead #18 Learning Unit Objectives Retail Method; Gross Profit Method; Inventory Turnover; Distribution of Overhead Perpetual Inventory System - keeps a running account of inventory by updating with each transaction Inventory Systems Periodic Inventory System - Relies on a physical count of inventory done periodically Number of Cost Total Units Purchased per unit cost Beginning .

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• Business math procedures
• Lecture Practical business math procedures
• Business math
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• Math procedures
• Subtraction of fractions
• Bank statement
• Reconciliation process
• Solving equations
• Solving word problems
• Rounding percents
• Converting percents to decimals
• Trade discounts
• Cash discounts
• Perishables analysis
• Breakeven analysis
• Computing payroll deductions
• Employees’ pay
• Simple interest
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• Cost of installment buying
• Revolving charge credit cards
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• Units of production method
• Property taxes
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• Whole numbers
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