wk 11inventory 1 Flashcards
1
Q
1st largest recurring expense
2nd largest recurring expense
A
1st= payroll/labor 2nd= inventory
2
Q
as a general rule, no more than __-__% of practice income should be spent on inventory
A
12-15%
3
Q
markup products at least ___%
A
100%
4
Q
examples of inventory w higher holding costs
A
need to be refridgerated, special humidity requirments, need to be locked in storage
5
Q
veterinary services, persciption items, and medical supplies are tax exempt when
A
sold to clients (clients dont pay tax)
6
Q
to charge sales tax buisnesses must fill out what form
A
form DTF-17
7
Q
historically vet clinics dispensed medications from
A
their own pharmacies (significant source of income)
