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Average cost method is a method of accounting which assumes that the cost of inventory is based on the average cost of the goods available for sale during the period. [1]The average cost is computed by dividing the total cost of goods available for sale by the total units available for sale.
But at the end, the total cost of purchases and production are added to beginning inventory cost to give cost of goods available for sale. Alternatively the costs of goods available for sales can be computed from the costs of sales: Costs of goods available for sale − Ending Inventory − Inventory write-downs = Cost of goods sold
Inventory may also cause significant tax expenses, depending on particular countries' laws regarding depreciation of inventory, as in Thor Power Tool Company v. Commissioner. Inventory appears as a current asset on an organization's balance sheet because the organization can, in principle, turn it into cash by selling it. Some organizations ...
Gnumeric is free and cross-platform, it is part of the GNOME Free Software Desktop Project. Kingsoft Spreadsheets; LibreOffice Calc is free, open-source and cross platform. Numbers is Apple Inc.'s spreadsheet software, part of iWork. OnlyOffice Docs Spreadsheet editor is free and open source. PlanMaker (SoftMaker Office) Pyspread; Sourcetable [43]
A spreadsheet application (e.g., Microsoft Excel or LibreOffice Calc) is the preferred tool for keeping a content inventory; the data can be easily configured and manipulated. Typical categories in a content inventory include the following: Link — The URL for the page; Format — For example, .HTML, .pdf, .doc, .ppt
Cash and cash equivalents are recorded as current assets. Cash and cash equivalents (CCE) are the most liquid current assets found on a business's balance sheet.Cash equivalents are short-term commitments "with temporarily idle cash and easily convertible into a known cash amount". [1]
A positive flow of intended inventory investment occurs when a firm expects that sales will be high enough that the current level of inventories on hand may be insufficient—perhaps because in the presence of very short-term fluctuations in the timing of customer purchases, there is a risk of temporarily being unable to supply the product when a customer demands it.
An inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. [1] It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages.