The Skeleton of the Basic Retail Inventory Calculation Is Presented

question 99

Essay

The skeleton of the basic retail inventory calculation is presented below:

Required:
Explain how the following items would affect the computation of ending inventory using the retail inventory method:
1.Freight-in.
2.Purchase returns.
3.Sales returns and allowances.
4.Normal spoilage.
5.Discounts to employees and favored customers.

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Definitions:

Reflexes

Automatic, involuntary responses to specific stimuli, such as pulling a hand back from a hot surface, which occur without conscious control.

Maze Learning

The process by which an individual learns to navigate through a maze, often used in psychological experiments to study spatial learning and memory.

Reward

A benefit or positive reinforcement given in response to an individual's achievement or behavior that is desirable.

Behaviourist

A psychologist or researcher who subscribes to the behavioral approach, focusing on observable behaviors and the ways they're learned.