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Ending inventory is the amount of inventory a company has in stock at the end of its fiscal year. It is closely related with ending inventory cost, which is the amount of money spent to get these goods in stock. It should be calculated at the lower of cost or market.
Two very popular methods are 1)- retail inventory method, and 2)- gross profit (or gross margin) method. The retail inventory method uses a cost to retail price ratio. The physical inventory is valued at retail, and it is multiplied by the cost ratio (or percentage) to determine the estimated cost of the ending inventory.
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 ...
Enlargement of KBBI was established as a national policy, with the budget support of 14 billion Indonesian rupiah. [4] To achieve the goal, the Agency engaged a team of 165 annotators, 46 editors and 15 validators, and sought assistance from Oxford University Press and Lexical Computing .
Net realizable value (NRV) is a measure of a fixed or current [1] asset's worth when held in inventory, in the field of accounting.NRV is part of the Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) that apply to valuing inventory, so as to not overstate or understate the value of inventory goods.
An item whose inventory is sold (turns over) once a year has higher holding cost than one that turns over twice, or three times, or more in that time. Stock turnover also indicates the briskness of the business. The purpose of increasing inventory turns is to reduce inventory for three reasons. Increasing inventory turns reduces holding cost ...
On 30 March 2021, President Joko Widodo submitted a Presidential Letter to People's Representative Council, which contained a proposal for major changes in the national cabinet, one of which was the merger of the Ministry of Research and Technology and the Ministry of Education and Culture into one ministry named the Ministry of Education, Culture, Research, and Technology.
Children ages 6–12 attend primary school, called Sekolah Dasar (SD). [11] As of 2014, most elementary schools are government-operated public schools, accounting for 90.29% of all elementary schools in Indonesia. [ 12 ]