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Retail inventory method. Resellers of goods may use this method to simplify record keeping. The calculated cost of goods on hand at the end of a period is the ratio of cost of goods acquired to the retail value of the goods times the retail value of goods on hand. Cost of goods acquired includes beginning inventory as previously valued plus ...
The balikbayan box is a modern manifestation of the Philippine custom of pasalubong, where domestic or foreign travelers are expected to bring gifts for family, friends and colleagues. [citation needed] Balikbayan boxes provide connection between family in the Philippines and those abroad, and provide goods for the family in the Philippines. [7]
where DII is days in inventory and COGS is cost of goods sold. The average inventory is the average of inventory levels at the beginning and end of an accounting period, and COGS/day is calculated by dividing the total cost of goods sold per year by the number of days in the accounting period, generally 365 days. [3]
Pasalubong can range from ordinary sweets (like chocolates), [18] regional delicacies, to imported confectionery goods. They can also be other items like clothing, accessories, novelty items, ornaments, handicraft items, artwork, and toys, among others. [19] They can even be ordinary things that may be hard to acquire in a given region. [3]
In accounting, the inventory turnover is a measure of the number of times inventory is sold or used in a time period such as a year. It is calculated to see if a business has an excessive inventory in comparison to its sales level. The equation for inventory turnover equals the cost of goods sold divided by the average inventory.
Pursuant to the Executive Order No. 94 of Republic Act No. 52, the President of the Philippines reorganized the different departments, bureaus, offices and agencies of the government of the Republic of the Philippines. Consequently, the Insular Collector of Customs was changed to Collector of Customs for the Port of Manila.
Cost of sales, also denominated "cost of goods sold" (COGS), includes variable costs and fixed costs directly related to the sale, e.g., material costs, labor, supplier profit, shipping-in costs (cost of transporting the product to the point of sale, as opposed to shipping-out costs which are not included in COGS), etc.
Balance of trade is the difference between the monetary value of a nation's exports and imports of goods over a certain time period. [1] Sometimes services are also considered but the official IMF definition only considers goods. The balance of trade measures a flow variable of exports and imports over a given period of time. The notion of the ...