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FIFO and LIFO accounting are methods used in managing inventory and financial matters involving the amount of money a company has to have tied up within inventory of produced goods, raw materials, parts, components, or feedstocks. They are used to manage assumptions of costs related to inventory, stock repurchases (if purchased at different ...
Audits of providers of health care services full-text: 31-02: 1990: Audits of providers of health care services, second edition full-text: 31-03: 1990: Audits of providers of health care services, as of December 31, 1990 full-text: 31-04: 1992: Audits of providers of health care services, with conforming changes as of May 1, 1992 full-text: 31 ...
An important extension to the EOQ model is to accommodate quantity discounts. There are two main types of quantity discounts: (1) all-units and (2) incremental. [2] [3] Here is a numerical example: Incremental unit discount: Units 1–100 cost $30 each; Units 101–199 cost $28 each; Units 200 and up cost $26 each.
Inventory Turn is a financial accounting tool for evaluating inventory and it is not necessarily a management tool. Inventory management should be forward looking. The methodology applied is based on historical cost of goods sold. The ratio may not be able to reflect the usability of future production demand, as well as customer demand.
Discounts that must be deducted from the costs of purchased inventory are the following: Trade discounts (reduction in the price of goods that a manufacturer or wholesaler provides to a retailer) – includes a discount that is always allowed, regardless of the time of payment.
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Group purchasing is used in many industries to purchase raw materials and supplies, but it is especially common practice in the grocery industry, health care, electronics, industrial manufacturing and agricultural industries. In recent years, group purchasing has begun to take root in the nonprofit community. Group purchasing amongst nonprofits ...