Chapter-7BarryBus21

Maintain a sufficient quantity to meet customers

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Unformatted text preview: : 1. Maintain a sufficient quantity to meet customers’ needs 2. Ensure quality meets customers’ expectations and company standards 3. Minimize the costs of acquiring and carrying the inventory 4 Types of Inventory Merchandisers . . . Buy finished goods. Sell finished goods. Manufacturers . . . Buy raw materials. Produce and sell finished goods. Merchandise inventory Raw Materials Work in Process Finished goods Completed products Completed awaiting sale Materials waiting to be processed Partially Partially complete products complete 5 Reporting on FS 6 Cost of Goods Sold Equation BI + P – CGS = EI American Eagle Outfitters’ beginning inventory was $4,80...
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