Periodic Inventory Systems

Periodic Inventory scheme The Periodic Inventory System (PIS) is unremarkably used in by small businesses to bear on rails of high catalogue turnover. Small businesses such as home-brewed jewellery designers choose to use the PIS so that they sack 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 early days tr polish offs and projecting new trends. The PIS requires physical armoury counts and dirty dog 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 companion to know etymon pedigree and ending inventory precisely it does not track inventory on a mundane basis (para. 6). The formula for the PIS is beginning Inventory + purchases made = xxx costs of products sold = score inventory. Based on the list the average for my co mpany for 4 historic period 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. forecast can be through by taking data from a set analytic thinking and manipulating the data with the sought after variables and coming up with the final outcome.

In my indez it shows that business has climed the dying three years in a row and undermentioned year I predict it to come by most $30,000.00 Year1234Me anIndex5 Month January18,10472,5014! 3,71335,20342,380.31.0042,348.96 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, rate it on our website: OrderCustomPaper.com

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