Management and Organizational Studies 3360A/B Chapter Notes - Chapter 8: Consignor, Consignee, Common Carrier

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3360A/B
• Professor: Stacey Hann

Document Summary

What types of companies have inventory: as a general rule, companies in industries such as manufacturing, retail and wholesale often have a significant amount of inventories. =(cid:1855)(cid:1867)(cid:1871)(cid:1872) (cid:1867)(cid:1858) (cid:1859)(cid:1867)(cid:1867)(cid:1856)(cid:1871) (cid:1867)(cid:1866) (cid:1853)(cid:1866)(cid:1856) (cid:1853)(cid:1872) (cid:1872) (cid:1857) (cid:1854)(cid:1857)(cid:1859)(cid:1866)(cid:1866)(cid:1866)(cid:1859) (cid:1867)(cid:1858) (cid:1872) (cid:1857) (cid:1868)(cid:1857)(cid:1870)(cid:1867)(cid:1856) + (cid:1855)(cid:1867)(cid:1871)(cid:1872) (cid:1867)(cid:1858) (cid:1859)(cid:1867)(cid:1867)(cid:1856)(cid:1871) (cid:1853)(cid:1869)(cid:1873)(cid:1870)(cid:1857)(cid:1856) (cid:1853)(cid:1866)(cid:1856) (cid:1868)(cid:1870)(cid:1867)(cid:1856)(cid:1873)(cid:1855)(cid:1857)(cid:1856) (cid:1856)(cid:1873)(cid:1870)(cid:1866)(cid:1859) (cid:1872) (cid:1857) (cid:1868)(cid:1857)(cid:1870)(cid:1867)(cid:1856) =(cid:1855)(cid:1867)(cid:1871)(cid:1872) (cid:1867)(cid:1858) (cid:1859)(cid:1867)(cid:1867)(cid:1856)(cid:1871) (cid:1853)(cid:1874)(cid:1853)(cid:1853)(cid:1854)(cid:1857) (cid:1858)(cid:1867)(cid:1870) (cid:1871)(cid:1853)(cid:1857) (cid:1856)(cid:1873)(cid:1870)(cid:1866)(cid:1859) (cid:1872) (cid:1857) (cid:1868)(cid:1857)(cid:1870)(cid:1867)(cid:1856) (cid:1855)(cid:1867)(cid:1871)(cid:1872) (cid:1867)(cid:1858) (cid:1859)(cid:1867)(cid:1867)(cid:1856)(cid:1871) (cid:1867)(cid:1866) (cid:1853)(cid:1866)(cid:1856) (cid:1853)(cid:1872) (cid:1872) (cid:1857) (cid:1857)(cid:1866)(cid:1856) (cid:1867)(cid:1858) (cid:1872) (cid:1857) (cid:1868)(cid:1857)(cid:1870)(cid:1867)(cid:1856) Goods the company has title to, and include in seller"s inventory: goods in transit, goods out on consignment, goods sold under buyback agreements, goods sold with high rates of return that cannot be estimated. Inventory errors: errors occur when information has been incorrectly included or excluded, refer to examples in textbook. There are two methods to account for the purchases and discounts: gross method, net method, gross method a method of recording inventory whereby the use of a purchase.