Question
Help with q 2 ii and 3 ii Assume that you are auditing inventory of HUSKY Corp. as of December 31, 2013. The inventory general
Help with q 2 ii and 3 ii
Assume that you are auditing inventory of HUSKY Corp. as of December 31, 2013. The inventory general ledger balance is $8,124,998.66. HUSKY manufactures lawn and garden tractors, snowmobiles, and supplies. Download the data file labeled HUSKY Inventory 2013. This file contains the following information:
SNUMB | Stock number (The first letter is Ffinished goods, Wwork in progress, Rraw material.) |
LASTSALE | Date of last sale (finished goods) or use (raw material) |
NUMSOLD | Number sold (finished goods) or used (raw materials) year-to-date |
UNITCOST | Unit cost |
INVQTY | Quantity on hand |
EXTCOST | Unit cost 3 Quantity on hand |
SELPRICE | Current selling price (finished goods only) |
REPLCOST | Current replacement cost (raw material only) |
Also, note that salespersons receive a 10% commission based on selling price.
Extract all inventory items that have not been used or sold in six months. Include in the extraction the total extended cost of those items.
Extract the finished goods into a separate file (Hint: Use the expression SNUMB 5 = F):
Extract those items that have a net realizable value less than cost. Add a column and calculate the amount each of those items that should be written down and print a report that includes those items and the total of the write-down.
Add a Column and calculate inventory turnover for each item in inventory. Extract and print a report of those items with a turnover less than 2. The report should include the total extended cost of those items.
Extract the raw materials into a separate file:
Extract those items that have a replacement cost less than cost, add a column and calculate the amount each of those items that should be written down, and save a report that includes those items and the total of the write-down.
Add a column and calculate inventory turnover for each item. Extract and save a report of those items with a turnover less than 2. The report should include the total extended cost of those items.
I can not upload the excel file
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