Product type= Fez
unit in store=25
price per unit in store=2.25
minimum weekly sales=26
normal weekly sales=28
maximum weekly sales=30
AL-FAIDA Ltd is a retail company operating within the TIJANIYA enclave. AL-FAIDA has been reviewing the adequacy of its stock control systems. During a period of such review, one product were identified for further investigations.

Gross margin is expressed as a % of sales and given as follows for each product:

Fez = 42

Gross margin = sales – purchase price of product.

There are 6 trading days per week. All orders are delivered by suppliers into the central warehouse. The lead time is one week from the time order is placed. A further week is required by the retailer in order to transfer stock from central warehouse to stores. Both of these lead times can be relied upon.

Required:

Calculate for each product:

i. the minimum and maximum weekly sales units

ii. the stock re-order level
iii. the maximum stock control level

Show all workings.

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?

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