Question
In: Other
Nationwide Auto Parts uses a periodic review inventory control system for one of its stock items....
Nationwide Auto Parts uses a periodic review inventory control system for one of its stock items. The review interval is 12 weeks, and the lead time for receiving the materials ordered from its wholesaler is 4 weeks. Weekly demand is normally distributed, with a mean of 125 units and a standard deviation of 25 units. Refer to the standard normal table LOADING... for z-values. a. What is the average and the standard deviation of demand during the protection interval? The average demand during the protection interval is nothing units. (Enter your response as an integer.)
Solutions
Expert Solution
Periodic review system also called fixed interval reorder system has four original economic order quantity assumptions: -
- There are no restrictions on lot size.
- ordering cost and carrying cost
- demand should be independent
- The lead time is constant.
Amanda K answered 2 years agoRelated Solutions
Inventory Costing Methods - Periodic Method Fortune Stores uses the periodic inventory system for its merchandise...
Inventory Costing Methods - Periodic Method
Fortune Stores uses the periodic inventory system for its
merchandise inventory. The April 1 inventory for one of the items
in the merchandise inventory consisted of 120 units with a unit
cost of $355. Transactions for this item during April were as
follows:
Required a. Calculate the cost of goods sold and the ending
inventory cost for the month of April using the weighted-average
cost method. Do not round until your final answers. Round...
Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for...
Fortune Stores uses the periodic inventory system for its
merchandise inventory. The April 1 inventory for one of the items
in the merchandise inventory consisted of 120 units with a unit
cost of $375. Transactions for this item during April were as
follows:
April
9
Purchased
40
units @
$395
per unit
14
Sold
80
units @
$600
per unit
23
Purchased
20
units @
$400
per unit
29
Sold
40
units
Required
a. Calculate the cost of goods sold...
Periodic Inventory by Three MethodsDymac Appliances uses the periodic inventory system. Detailsregarding the inventory...
Periodic Inventory by Three MethodsDymac Appliances uses the periodic inventory system. Details
regarding the inventory of appliances at January 1, purchases
invoices during the next 12 months, and the inventory count at
December 31 are summarized as follows:Required:1. Determine the cost of the inventory on
December 31 by the first-in, first-out method.If the inventory of a particular model comprises one entire
purchase plus a portion of another purchase acquired at a different
unit cost, use a separate line for each...
Cansela Corporation uses a periodic inventory system and the LIFO method to value its inventory. The...
Cansela Corporation uses a periodic inventory system and the
LIFO method to value its inventory. The company began 2018 with
inventory of 5,600 units of its only product. The beginning
inventory balance of $75,600 consisted of the following
layers:
2,100 units at $11 per unit
=
$
23,100
3,500 units at $15 per unit
=
52,500
Beginning inventory
$
75,600
During the three years 2018–2020, the cost of inventory remained
constant at $17 per unit. Unit purchases and...
Cansela Corporation uses a periodic inventory system and the LIFO method to value its inventory. The...
Cansela Corporation uses a periodic inventory system and the
LIFO method to value its inventory. The company began 2018 with
inventory of 6,100 units of its only product. The beginning
inventory balance of $87,200 consisted of the following layers:
2,600 units at $12 per unit = $ 31,200 3,500 units at $16 per unit
= 56,000 Beginning inventory $ 87,200 During the three years
2018–2020, the cost of inventory remained constant at $18 per unit.
Unit purchases and sales during...
Hazelton Corporation uses a periodic inventory system and the LIFO method to value its inventory. The...
Hazelton Corporation uses a periodic inventory system and the
LIFO method to value its inventory. The company began 2018 with
$84,100 in inventory of its only product. The beginning inventory
consisted of the following layers:
4,700 units at
$7 per unit
$
32,900
6,400 units at
$8 per unit
51,200
Total
$
84,100
During 2018, 6,700 units were purchased at $9 per unit and
during 2019, 8,400 units were purchased at $10 per unit. Sales, in
units, were 8,400 and...
Black, Inc. is an auto parts retailer which uses a perpetual inventory system. The company records...
Black, Inc. is an auto parts retailer which uses a perpetual
inventory system. The company records its purchases at net cost and
sales at full invoice price. Prepare journal entries (no
explanations needed) for the following transactions.
10/5: Black purchased 150 Charge-Up batteries on account from
White Co.. The total invoice price is $40 per battery ($6,000
total); terms of 2/10,n/30.
10/7: Black returned 20 batteries which had been ordered in
error. The amount is to be deducted from the...
Capwell Corporation uses a periodic inventory system
Capwell Corporation uses a periodic inventory system. The company's ending inventory on December 31, 2011, its fiscal-year end, based on a physical count, was determined to be $326,000. Capwell's unadjusted trial balance also showed the following account balances: Purchases, $620,000; Accounts payable; $210,000; Accounts receivable, $225,000; Sales revenue, $840,000. The internal audit department discovered the following items:1. Goods valued at $32,000 held on consignment from Dix Company were included in the physical count but not recorded as a purchase.2. Purchases...
Broadhead Company uses a periodic inventory system.
Broadhead Company uses a periodic inventory system. At the end
of the annual accounting period, December 31 of the current year,
the accounting records provided the following information for
product 2: Required: 1. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A: FIFO and (b) Case B: LIFO.
he Kali Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory...
he Kali Company uses the periodic inventory system for its
merchandise inventory. The June 1 inventory for one of the items in
the merchandise inventory consisted of 60 units with a unit cost of
$45. Transactions for this item during June were as follows: June 5
Purchased 40 units @ $50 per unit 13 Sold 50 units @ $95 per unit
25 Purchased 40 units @ $53 per unit 29 Sold 20 units@ $110 per
unit Required a. Compute the...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- A)Given a generic array with ‘n’ items (not only integers). Give a solution for checking whether...
- Explain virtualization as a key technology in cloud computing environments, as well as the purpose of...
- A system is set up to take raw grading information from the console and calculate a...
- I have an 8 by 8 array that has values ranging from 1-64. I am wanting...
- The background information and instruction of the question is provided below, and i only asked for...
- Which business or industry sectors have the most startups companies that consider a small and medium...
- 16. Cost of trade credit Firms usually offer their customers some form of trade credit. This...
ADVERTISEMENT