Users' questions

What is a merchandiser that sells directly to consumers?

What is a merchandiser that sells directly to consumers?

retailer. Explanation: A retailer is an intermediary between the wholesaler and the customer. A retailer sells goods and services directly to the customers.

What are merchandising companies that sell to retailers known as?

Often, merchandising firms are referred to as resellers or retailers since they are in the business of reselling a product to the consumer at a profit.

What account is merchandiser?

Merchandiser deals in selling goods to the customers. Therefore, they have accounts like the cost of goods sold, inventory, sales revenue, and inventory. Whereas services only have service revenue account and do not have accounts related to inventory. Hence, it is the correct option.

When credit terms of 1/15 N 60 are offered How long is the discount period quizlet?

Since the bill is paid after the discount period, the balance due is $2,000 less the returned goods of $400, or $1,600. The entry will debit Accounts Payable and credit Cash. When credit terms of 1/15, n/60 are offered, how long is the discount period? 1% discount can be taken if the invoice is paid within 15 days.

What is merchandising type of business?

A merchandising firm is one of the most common types of businesses. A merchandising firm is a business that purchases finished products and resells them to consumers. Consider your local grocery store or retail clothing store. Both of these are merchandising firms.

What is a merchandising company provide an example?

Merchandising companies include auto dealerships, clothing stores, and supermarkets, all of which earn revenue by selling goods to customers.

What is a merchandising business?

Merchandising, broadly speaking, refers to any entity that engages in selling a product. Under this definition, there are two types of merchandising companies, namely retail and wholesale. Retailers sell their products directly to consumers, while wholesalers buy from manufacturers and sell to retailers.

What is an example of a merchandising company?

What is Moore’s correct ending inventory balance at December 31?

What is Moore’s correct ending inventory balance at December 31? -Goods held on consignment (i.e., $15,000).

How does a periodic inventory system work?

Periodic inventory is a system of inventory valuation where the business’s inventory and cost of goods sold (COGS) are not updated in the accounting records after each sale and/or inventory purchase. Instead, the account is updated after a designated accounting period has passed.