You have been hired by the CEO of a soon-to-be-opened bookstore to develop procedures to help control inventory. List, describe, and defend three procedures you recommend be implemented to control inventory.

Question #1
Firms grant credit to customers as a way to increase sales. However, granting credit also exposes the firm to the risk of uncollectible accounts. List and describe three actions a firm can take to reduce the risk of bad debt expense. For each action listed, describe the potential costs involved with these steps.

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Question #2
You have been hired by the CEO of a soon-to-be-opened bookstore to develop procedures to help control inventory. List, describe, and defend three procedures you recommend be implemented to control inventory. As part of your response, be sure to describe any potential costs associated with these procedures.

Question #3
a) Using the Wal-Mart, Inc. financial statements provided on Blackboard, calculate and interpret the days to collect ratio. Assume all sales are credit sales.

Question #4
Using the Wal-Mart, Inc. financial statements provided , calculate and interpret the days to sell and gross profit ratios.

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