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What is Operating Cycle in Merchandising Business about?

A merchandising business operates in a cycle of purchasing inventory, selling that inventory to generate cash, and using the cash to purchase more inventory. For cash sales, the cycle is from cash to inventory back to cash, while for credit sales it is from cash to inventory to accounts receivable back to cash. Key documents in a purchase or sales transaction include invoices, bills of lading, statements of account, receipts, checks, requisitions, orders, and reports. Transactions are recorded in special jo

Author

Trina Joy Homerez

Language

EN