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Both a and b
-a method of stock rotation
-a method of valuating an inventory |
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Definition
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| Multiplying the unit cost by the # of units |
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| Choose a phrase that most closely resembles the act of "extending an inventory". |
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Definition
| Stock rotation is primarily a function performed by the |
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Term
| with a frequency that corresponds with the income statement |
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Definition
| Inventory should be taken |
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Definition
| If the lobby coffee and pastry bar had requisitions of $565, transferred in goods of $25, and transferred out goods of $50, its daily food cost would be |
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Definition
| Given an opening inventory of $8885, a closing inventory of $12000 and a cost of food sold of $11450 what would the inventory turnover for this restraunt be? |
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Definition
| An inventory that is counted, recorded, priced,extended and totaled is a |
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Definition
opening inventory at 3 cases costs $14 per case
purchases:
4 cases- $14.50
5 cases- $15
Using the LIFO method of inventory pricing, the cost per unit on the inventory sheet would be |
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Definition
| Using the FIFO method of inventory pricing, the cost per unit would be |
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Definition
| Using the averaged price method, the cost per unit would be |
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