Home Inventory 3 4 0 – Easily Inventory Your Possessions

• Home Inventory 3 4 0 – Easily Inventory Your Possessions One
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• A home inventory is a document containing a list of items found in a house which you would want an insurance company to compensate you in case of a natural disaster, a theft or fire. If you have a business, these assets are called trading inventory and you must also have a proper record of them. To write up a comprehensive list of all assets that a business owns, it may be important to do a.
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Bill McBride, founder of the Calculated Risk blog, in discussing inventory of newly constructed houses, notes:'The months of supply decreased to 3.3 monthsThis is the all-time record low months of supply.'Anyone thinking of putting their home on the market should not wait. For any character on your account, Possessions stores worn items, items in your inventory, in your keyring, in the bank, in the inbox, and in the the Guild Bank. It also keeps track of the bags themselves! Of course, you must log in to each character at least once to store their worn items, their inventory, and their keyring contents.

Is this hard to do? Not at all. Is it a time-consuming pain? We'll be honest — it depends on who you talk to.

Every person who has been through a theft, fire, flood, tornado, hurricane or other home-wrecking disaster says this is the one thing they wish they had. Cardhop 1 0 2 – manage your contacts details.

Every firefighter, police officer or first responder we have interviewed says that a home inventory is the most important thing a family can do. Principle 3 11.

Why? It's easier to write the details now. Reel em in fishing slot. It's harder after a traumatic event like a break-in or a house fire.

WHN Staff TIP – Times Two: Second home? Keep a separate inventory list.

When You'll Need It

A home inventory is a list (paper or digital) along with videos/photos of everything in your home. Here are just four times when your home inventory will help you out:

1. When your things have been damaged or stolen
2. Filing a police report, insurance claim, federal disaster claim or taxes
3. Settling an estate
4. Purchasing insurance policies for the right amount or adding riders and extra coverage.

WHN Reader TIP – Expensive? Engrave it! Consider using an electric engraving pen to mark more expensive items. Write a personal ID such as your last name or nickname. It helps with faster identification. Gladys, MN

When to Do It

WHN Staff TIP – No Time? Create an inventory guideline – nothing under $50 the first time through. Save those items for a later date. It's better to have a brief inventory than no record at all.

1. During spring or fall cleaning, moving to a new house, after the new year — or anytime!
2. Update your home inventory list at least once a year. Choose a date to help you remember, like the change to Daylight Savings Time.
3. Update your records when you add something to your household.
   • Include the info, pictures, copies of receipts, purchase contracts, warranties and other documents to the folder. This includes antique and art appraisals.
4. Re-evaluate your list and insurance needs after any large purchases. Look at the total cost of the big-ticket items and contact your insurance agent to see if you need a rider or additional coverage.
5. Consider other options to further secure your belongings like home security systems or safes.

Where to Keep It

WHN TIP – Go Digital: Save all your information digitally. Scan paperwork, save digital images of expensive or valuable items and then save to the cloud or put on a flash drive to store off-site.

1. Make a home inventory folder, box or binder to hold videos, photos, written lists and documents of your belongings. Label it!
2. Keep a duplicate copy of videos and pictures off-site. If the images are digital, save it on a flash-drive to keep off-site and/or in the cloud
3. Save the written information on your computer. For added protection, store a copy on a flash drive to keep off-site and/or save it to the 'cloud.'
4. Not a 'cloud' fan? Keep a copy of your information somewhere out-of-town — with a friend or relative. Why? Natural disasters can affect an entire community.
5. Give a copy of your inventory list to your insurance agent. Be sure he or she has your most updated version.

WHN Reader TIP – Be Honest: Be truthful and as accurate as possible when you quote the cost of items. A question about one item could lead to questioning the value of all your possessions.

How to Do It

WHN Expert TIP – Entry Points: Stephen Hadhazi, public insurance adjuster and publisher of DocuDamage.com recommends taking close ups of your windows, doors and their frames. Also, videotape or take a picture of someone holding a level to your foundation to show that the foundation is indeed level at the moment.

1. Need a guide? Print our room lists. These have been created with help from people who have lost their homes.
2. Do one room at a time.
3. Use your phone to take pictures and/or videotape and narrate. Focus on the big items like couches, tables, electronics, art, etc. Turn on the location, time and date function to show when you recorded your home and possessions.
   • Include information like 'I bought this TV in 2012 with my VISA card. I got it at Best Buy and it cost $400. The receipt and warranty are in (file cabinet, safe deposit box, etc.).'
   • Consider holding a ruler next to items to show the dimensions.
   • Save the images and video to a flash drive and store offset and/or in the cloud. If you just keep them on your phone and it's stolen, you have lost everything.
   • Write or describe each item, its brand name, make, model, serial numbers and the price. Include any other information you think might be helpful.
4. Don't forget sheds, garages, basements, porches, attics, hallways and around outdoor areas like pools and decks.
5. List seasonal items: snowblower, skis, tennis racquets, skates, surfboards, bikes, lawn furniture, barbecue grill, lawn mower, etc.
6. Group items by category, quantity and cost. For instance, '10 pairs of shoes' or '100 books,' and estimate the total cost. If you have high-ticket items like fur coats, designer dresses, heirlooms or antiques, take a picture and write down details (brand, year, price, description, authentification).
   • Remember to look in closets, drawers and boxes.
7. Note special features such as decorative plaster work, intricate hardwood floor patterns, ADA-compliant design, energy-efficient additions, craftsman work from 100+ years ago.
8. Document the age, make and models of your utility systems (e.g. 50-year-old furnace vs. 3 years old).

Home Inventory 3 4 0 – Easily Inventory Your Possessions One

The inventory turnover ratio is an efficiency ratio that shows how effectively inventory is managed by comparing cost of goods sold with average inventory for a period. https://moneystormcasinoinstantplay-dial-slots.peatix.com. This measures how many times average inventory is 'turned' or sold during a period. In other words, it measures how many times a company sold its total average inventory dollar amount during the year. A company with $1,000 of average inventory and sales of $10,000 effectively sold its 10 times over.

This ratio is important because total turnover depends on two main components of performance. The first component is stock purchasing. If larger amounts of inventory are purchased during the year, the company will have to sell greater amounts of inventory to improve its turnover. If the company can't sell these greater amounts of inventory, it will incur storage costs and other holding costs.

The second component is sales. Sales have to match inventory purchases otherwise the inventory will not turn effectively. That's why the purchasing and sales departments must be in tune with each other.

Formula

The inventory turnover ratio is calculated by dividing the cost of goods sold for a period by the average inventory for that period.

Average inventory is used instead of ending inventory because many companies' merchandise fluctuates greatly throughout the year. For instance, a company might purchase a large quantity of merchandise January 1 and sell that for the rest of the year. By December almost the entire inventory is sold and the ending balance does not accurately reflect the company's actual inventory during the year. Average inventory is usually calculated by adding the beginning and ending inventory and dividing by two.

The cost of goods sold is reported on the income statement.

Analysis

Home Inventory 3 4 0 – Easily Inventory Your Possessions Like

Inventory turnover is a measure of how efficiently a company can control its merchandise, so it is important to have a high turn. This shows the company does not overspend by buying too much inventory and wastes resources by storing non-salable inventory. It also shows that the company can effectively sell the inventory it buys.

Home Inventory 3 4 0 – Easily Inventory Your Possessions Will

This measurement also shows investors how liquid a company's inventory is. Think about it. Inventory is one of the biggest assets a retailer reports on its balance sheet. If this inventory can't be sold, it is worthless to the company. This measurement shows how easily a company can turn its inventory into cash.

Creditors are particularly interested in this because inventory is often put up as collateral for loans. Banks want to know that this inventory will be easy to sell.

Inventory turns vary with industry. For instance, the apparel industry will have higher turns than the exotic car industry.

Example

Donny's Furniture Company sells industrial furniture for office buildings. During the current year, Donny reported cost of goods sold on its income statement of $1,000,000. Donny's beginning inventory was $3,000,000 and its ending inventory was $4,000,000. Donny's turnover is calculated like this:

Home Inventory 3 4 0 – Easily Inventory Your Possessions Value

As you can see, Donny's turnover is .29. This means that Donny only sold roughly a third of its inventory during the year. It also implies that it would take Donny approximately 3 years to sell his entire inventory or complete one turn. In other words, Danny does not have very good inventory control.

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