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Assignment 2, Continued - 14237_289
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Assignment 3 - 14237_291
2-65. 2-66. 2-67. 2-68. 2-69. In  a  ship’s  store  afloat,  what  primary factor(s)  determine(s)  the  amount  of inventory? 1. Procurement 2. Markups 3. Surveys 4. Sales In a ship’s store,   profits on sales are determined  by  which  of  the  following factors? 1. The amount of markup over cost on the items  sold 2. The value total inventory 3. The  volume  of  sales 4. The total inventory value of the retail  store Your  failure  to  maintain  sufficient  stock on  board  will  ultimately  result  in decreased  sales  for  your  ship’s  store. 1. True 2. False NAVRESSO  recommence  that  you  maintain whet optimum ratio of sales to stock at cost  price  to  your  beginning  inventory for  each  4-month  accounting  period? 1. 1.20 to 1 2. 1.50 to 1 3. 1.10 to 1 4. 1.33 to 1 “Stock turn”   simply  means  that  a  90-days supply  of  stock  should  “turn  over”  one and one-third times in a period of whet maximum  number  of  days? 1. 360 2. 120 3. 180 4. 90 2-70. An  accounting  period  covers  how  many months? 1. 6 2. 2 3. 3 4. 4 2-71. You can obtain your stock turn figure by using  what  formula? 1. By  multiplying  cash  sales  by  opening inventory 2. By  dividing  opening  inventory  by  cash sales 3. By  dividing  expenditures  by  opening inventory 4. By  subtracting  cash  sales  from  opening inventory IN  ANSWERING  QUESTIONS  2-72  THROUGH  2-74, SELECT  THE  STOCK  TURN  FIGURE  IN  COLUMN  B  THAT CORRECTLY INVENTORY QUESTION. A. 2-72. 2-73. 2-74. CORRESPONDS  TO  THE  EXPENDITURES/OPENING FIGURES LISTED IN COLUMN A FOR EACH EXPENDITURES/ B. STOCK  TURN OPENING   INVENTORY $8,000 $6,000 1. 1.54 $7,400 $6,200 2. 1.40 $16,000 $10,400 3. 1.33 4. 1.19 2-75. Optimum  stock  level  (inventory)  is defined  as  an  optimum  supply  of  stock  to cover  what  total  number  of  days? 1. 90 2. 120 3. 180 4. 365 14

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