Periodic Inventory Systems

Periodic Inventory outline The Periodic Inventory System (PIS) is unremarkably used in by small businesses to honor rails of high catalogue turnover. Small businesses such as home-brewed jewelry designers choose to use the PIS so that they stool monitor, which items are popular and need to be regulariseed faster than others. victimisation a PIS allows businesses to forecast the needs of popular items using unfledged tr polish offs and projecting new trends. The PIS requires physical armoury counts and tush be monthly, quarterly, or annually. Because this is time-consuming most companies only do this at a time a year at year end. Peavler (n.d.), Periodic breed management allows a fellowship to know etymon memorial and ending inventory except it does not track inventory on a chance(a) basis (para. 6). The formula for the PIS is beginning Inventory + purchases made = thirty costs of products sold = score inventory. Based on the baron the average for my compan y for 4 old age is $42,114.00. My forecast shows that I will have a reduction in inventory and sales at the end of the year. This is due to the economy and declining jewelry sales. I used the miserly from all four years and multiplied it by 12 months to get my yearly average. soothsaying can be through by taking entropy from a set analytic thinking and manipulating the data with the desired variables and coming up with the final outcome.

In my indez it shows that business has climed the uttermost three years in a row and contiguous year I predict it to come by closely $30,000.00 Year1234MeanIndex5 Month January18,10472,50143,71335,! 20342,380.31.0042,348.96 February16,30046,53030,74051,25036,205.00.8535,996.61 March15,71022,10047,80034,24029,962.50.7130,067.76 April59,60342,43571,45064,23659,431.01.4059,288.54 may86,41543,25659,40163,21463,071.51.4963,099.95 June71,45440,00055,20057,90456,139.51.3356,324.11 July55,20139,80932,18060,00046,797.51.1147,007.34 August56,89663,70438,600...If you want to get a full essay, tell apart it on our website: OrderCustomPaper.com

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