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Osprey Sports stocks everything that a musky fisherman could want in the Great North Woods. A particular musky lure has been very popular with local fishermen as well as those who buy lures on the Internet from Osprey Sports. The cost to place orders with the supplier is 530/order; the demand averages 4 lures per day. with a standard deviation of I lure; and the inventory holding cost is $1.00/lure/year. The lead time form the supplier is 10 days, with a standard deviation of 3 days. It is important to maintain a 97 percent cycle-service level to properly balance service with inventory holding costs. Osprey Sports is open 350 days a year to allow the owners the opportunity to fish for muskies during the prime season. The owners want to use a continuous review inventory system for this item.
a What order quantity should be used?
b. What reorder point should be used?
c. What is the total annual cost for this inventory system?
General Products Company bought Special Products Division in 2010 and appropriately recorded 500,000 of goodwill related to the purchase.
Describe its nature (e. g. is it an interfund transfer an interfund loan etc) prepare the journal entry in the General Fund, and prepare the journal entry in the other affected fund.
At December 31, 2011, Walken had a balance of €40,000 of cash at M&V Bank and an overdraft of (€5000) at First National Bank. (That cash balance includes any effects on cash of the other transactions described in this problem.)
Correction of an error in the financial statements of a prior period discovered subsequent to their issuance.
Prepare a balance sheet in good form (stockholders' equity details can be omitted)
fordham florist specializes in large floral bouquets for hotels and other commercial spaces. the company has provided
on august 31 2010 merry company acquired four 1000 face value bonds with a 10 interest rate at face value plus accrued
An organization's budgets will often be prepared to cover:
huffman company leases a machine from lincoln corp. under an agreement which meets the criteria to be a capital lease
Prepare a bank reconciliation for the MSI checking account at December 31, 2013. You will have to compute the balance per books
date activities units acquired at cost units sold at retail mar. 1 beginning inventory 280 units 9.60 2688 mar. 10
What are adjusting entries and why are they necessary? What accounts are subject to adjusting journal entries and why? What are the types of adjusting entries (provide examples)?
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