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In: Accounting

1(a) Mr.Abdullah, who has been pursuing B.Tech in IT under diploma II year in the Salalah...


1(a) Mr.Abdullah, who has been pursuing B.Tech in IT under diploma II year in the Salalah College of Technology since 2018, is the best friend of Mr.Nasser, who has been studying in Business under diploma II year in the Salalah College of Technology. Both of them are in home on account of Covid-19 pandemic and lockdown of entire nation in order to prevent the disease. As Mr.Abdullah is very much interested in Business and intends to commence retail merchandising business in Dhofar region after his graduation, He requested Mr. Nasser to prepare a report in detail explaining the Merchandising business, payment terms, shipping terms, Merchandise inventory and two types of inventory system and suggesting the best inventory system for merchandising business.

Assume you are a Mr. Nasser, Write a Report containing above points in your own words.   .

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Expert Solution

Merchandising Business is a very common type of business model where a person acts as a middle-men between manufacturer and consumer.

Usually, Payment Terms depends upon the level of merchandising if it is at wholesale, Credit Sale is normal and can have 30-50 days' of credit policy and in general retail like in the departmental store, we usually pay cash hand in hand.

Shipping Terms: Several International commercial terms are used for shipping at international levels like ex-works, Door to Door(DDP) etc. Usually, In the wholesale business seller ships whereas at the retail level customer picks from store or door to door is quite popular as well at the retail level nowadays.

Merchandise Inventory refers to inventory level available for sale at a particular point of time.

There are two types of popular inventory systems :
1. Perpetual Inventory System which is generally said to be real-time based inventory system.
2. Periodic Inventory System where the inventory is determined at regular intervals.

The best Inventory system will be Periodic Inventory system as it requires less control over inventory but nowadays strict control is measured over inventory even in merchandise business so the other system can also be used.

Please mark a thumbs up ?.

ekkarill92 answered 2 years ago
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