1. An organization discovers in a physical inventory count that the actual inventory on hand is $50,000 less than the value on the books. Write the accounting entry to record this shrinkage transaction.
2. Miami Trinity Health Care has an average inventory balance of $2 million. The total annual supply expense is $10 million. Using a 360-day year, calculate the days of supply.
3. A product has total usage of 1,000 over the course of the year. Each item costs $20. The transactional order cost from procurement is $50 each transaction, and the annual carrying cost is 10% of the total annual cost. Calculate the economic order quantity.
4. Assume the following time series data:

January100

February200

March300

April400 Is there a trend you can observe in the data? What is it called?

5.If a product has utilization of 50 in Period 0 and a slope of 10 each subsequent period, what is the expected forecasted value in Period 2?