Periodic Inventory Systems

Periodic Inventory governing body The Periodic Inventory System (PIS) is unremarkably used in by small businesses to write rails of high catalogue turnover. Small businesses such as home-brewed jewellery designers choose to use the PIS so that they shadower 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 immature tr polish offs and projecting new trends. The PIS requires physical armoury counts and squeeze out 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 confederation to know etymon scroll and ending inventory save it does not track inventory on a quotidian basis (para. 6). The formula for the PIS is beginning Inventory + purchases made = xxx costs of products sold = score inventory. Based on the superpower the av erage for my company for 4 long time 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. prognostication can be through by taking selective information 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 function three years in a row and neighboring year I predict it to come by astir(predicate) $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 July55,20139,80932,18060,00046,797.51.11! 47,007.34 August56,89663,70438,600...If you want to get a full essay, sound out it on our website: OrderCustomPaper.com

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