Inventory are the products which are directly involved in the manufacturing of a business. Inventory includes raw materials inventory, work in progress inventory and finished goods inventory.
In a merchandising business, inventory includes all the products available for use. There are inventories in the administrative section of the company also which is known as the supplies Inventory.
Purchases are a nominal account that forms part in the cost of goods sold. Purchases term is used in the manufacturing firm and is the raw materials needed in the production of their product, thus will also form part of the inventory account if there is a left over for it.
Inventory on the other hand can come from the purchases itself in terms of the raw materials.
<u> There are many </u><u>inventory control</u><u> such as the following:</u>
Conducting different semi annual inventory count to know the actual number of inventory in hand against the monitoring of the inventory
Maintaining security of the facility of the stockroom storage by having cctv and padlock of the room.
Checking the incoming and outgoing inventory based on the documents given in the store.
Proper segregation of duties must be there, the record keeper should not be the same person as the one holding the inventory.
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<span>In the swim-lane format of a business process model, all activities for a role are included in that role's swim-lane.
The swim lane is used to show flow diagrams or charts that list out the responsibilities of a business and its employees. These lanes can be arranged horizontally or vertically. Think of them as lap swim lanes in a pool, that helps keep the business roles in line. </span>
All transactional documentation for listings, purchase and sale agreements, property management activities, exchanges, and trust account records must be retained for a period of three years.
Management is the management of an organization, such as a corporation, non-profit organization, or government agency. This is the art and science of managing company resources.
Management is the dynamic process of getting things done by others with the goal of achieving a common goal effectively and efficiently. All functions, from planning to organization, personnel allocation, management, and generalization, are essential for the smooth execution of management in an organization.
Management is a self-contained process of planning, organizing, managing and controlling.
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Answer:
The max revenue is "$32,300". The further explanation is described below.
Explanation:
(a)
The composition as well as response of models within 6 rows seems to be as described in the following:
Maximum 1650B + 850N + 790P (B bracelets, N necklaces and P pins produce overall revenue)
Yes of course,
The total gold ounces will be:
⇒ 
The total labor hours will be:
⇒ 
Integers B, N, P will become
The response for LINDO is:
B=10.0.
N=0
P=20
Final Value of Maximization will be:
= 32,300
(b)
- 10 bracelets, hardly any necklaces as well as 20 pins should always be made by the shop.
- These goods utilizing 125 ounces of gold simultaneously,
- It would use 310 hours of labor although 10 hours would then stay unused.
The maximum salary will become:
= $32,300.
