1. Helge Autoparts sells new and refurbished auto parts exclusively to auto deal
ID: 2484844 • Letter: 1
Question
1.
Helge Autoparts sells new and refurbished auto parts exclusively to auto dealers. Helge purchases inventory from distributors at trade conventions. Each time Helge makes a purchase, the company records the suppliers name, address, date, specific items purchased, price paid for each, and the total amount spent. Helge later researches the inventory items to set the customer price. The company assigns an inventory number to each item purchased and records the customer price for each item. Helge buys price tags and display supplies from Alwin Incorporated, a company that sells them at all trade conventions. All inventory and supplies purchases are immediately paid for with cash or with checks from a bank account in Helge's name. All cash received from sales are also deposited to the same bank account. Several times a year Helge rents display space at dealer conventions. A deposit is always required, and the entire fee is due the day the convention starts. Helge records the deposit and final payment, along with the convention's name and address, in the same worksheet on which purchases of inventory and supplies are recorded.
Which of the following would not be an attribute in the Inventory table?
Total amount of purchase
Price paid for inventory
Asking price
Inventory number
Total amount of purchase
Price paid for inventory
Asking price
Inventory number
Explanation / Answer
Asking price is not an attribute of an inventory table. The inventory table is meant to record the purchase, stock in hand and identification number of the inventory
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