HUECLectPPT3-22

HUECLectPPT3-22 - Book Inventory and Shortage HUEC 3043...

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Book Inventory and Shortage HUEC 3043
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Calculating Book Inventory Transactions that increase the value of inventory: Purchases, transfers in, customer returns, markdown cancellations, & additional markups Transactions that decrease the value of inventory: Sales, returns to vendors, markdowns, revisions downward, transfers out, & employee discounts
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Calculating Book Inventory Book Inventory = Total Merchandise Handled minus Total Retail Reductions Total Merchandise Handled: Beginning Inventory: Inventory value at start Net Purchases: RTV’s minus gross purchases Net Transfers: Transfer ins vs. transfer outs Net Price Revisions: Addt’l Markup & Markup Cancellation affect inventory value
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Calculating Total Merchandise Handled Formula for calculating Total Merchandise Handled: Gross Purchases - RTV = Net Purchases Transfers in - Transfers out = Net Transfers (Maybe a Negative #) Additional Markup - Addt’l Markup Cancellations = Net Additional markup
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HUECLectPPT3-22 - Book Inventory and Shortage HUEC 3043...

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