MANAGEMENT III

2015-2016
STUDENT NAME:________________________________________
CASE# 1: Create the stock control card (Kardex) for the following case. (1.5 points)
Mr. Mark is the owner of a store that sells laptops. He decided to hire Mr. Lucas to control
the stock of the laptops with a FIFO method. That means he has to register when the
business buys new laptops to increase the stock and when they sell the laptops he has to
reduce it from the Kardex. Mr Lucas starts his job on October 15 and the transactions are
as follows:
Date
Oct 15
Oct 16
Oct 17
Oct 18
Oct 19

Dat
e

Description
Initial balance
Purchase
Sale
Purchase
Sale

Units
20
40
50
40
30

IN
Quant
ity

Unit
cost

Unit Cost
$500
$500
$300

OUT
Total
cost

Quanti
ty

Unit
cost

BALANCE
Total
cost

OC
T
15
OC
T
16

40

500

20000

OCT
17
Oct
18

Oct
19

50
40

300

500

25000

12000

10

500

5000

20

300

6000

Quan
tity

Unit
cost

Total
cost

20

500

10000

60

500

30000

10

500

5000

10

500

5000

40

300

12000

20

300

6000

MANAGEMENT III
2015-2016

CASE# 2: Complete the following Kardex with the missing numbers. (2.5 points)

Date

IN
Quantit
y

OUT

Unit
cost

Total
cost

Quantity

Unit
cost

BALANCE
Total
cost

Nov
1
Nov
2

Nov
3

100

15

1500

50

10

500

Quantit
y

Unit
cost

Total
cost

200

10

2000

200

10

2000

100

15

1500

150

10

1500

100

15

1500

MANAGEMENT III
2015-2016

CASE# 3: Create the stock control card (Kardex) for the following case. (1.5 points)
Mr. Jacobs is the owner of a store that sells play stations. He decided to hire Mr. Isaiah to
control the stock of the laptops with a FIFO method. That means he has to register when
the business buys new laptops to increase the stock and when they sell the laptops he has
to reduce it from the Kardex. Mr Isaiah starts his job on October 15 and the transactions
are as follows:
Date
Oct 15
Oct 16
Oct 17
Oct 18
Oct 19

Description
Initial balance
Purchase
Sale
Purchase
Sale

Units
20
40
50
40
30

Unit Cost
$500
$500
$300

MANAGEMENT III
2015-2016
CASE# 4: Complete the following Kardex with the missing numbers. (3 points)

Date

IN
Quantit
y

Dec
23
Dec2
4

Dec
25

OUT

Unit
cost

10

Total
cost

Quantity

Unit
cost

500
40

BALANCE
Total
cost

Quantit
y
10

400

50
10

Unit
cost

Total
cost
500

MANAGEMENT III
2015-2016
CASE# 5:
a) Explain why is it important for a company to keep record of the stock that they
have? (1 points)
b) Who will need to know how much stock there is? (0.5 points)