Leadership and Management Paper Essay Example for Free

Leadership and Management Paper Essay At a very young age, George Washington Carver took a strong grip on his destiny. This dynamic leader prevailed over getting born without a name into slavery, overcoming poverty, and prejudice to commit his life in helping others achieve a better livelihood. Through his actions, he was able to earn high levels of respect of self-worth, dignity, honor, and infinite achievement. Booker T. Washington was the first president and principal of the Tuskegee Institute in 1896. Booker T. Washington sent an invitation to George W. Carver to reside over the Agriculture Department. For 47 years Carver developed, taught, and applied constant research in working to develop several methods from using crop-based materials. Carver was the innovator of going green. Through his tenure he worked with two additional college presidents that supported the zealous work of Carver. His discovering and teaching methods of crop rotation while introducing several alternative money crops for farmers that simultaneously improving the soil of heavily cultivated cotton fields would motivate and inspire many Black students to follow suite in his techniques. (Kouzes Posner, 2009) â€Å"A leader’s dynamic does not come from special powers. It comes from a strong belief in a purpose and a willingness to express that conviction.† In leadership, Carver designed a mobile classroom that brought education to the fields of the farmers. His so-called ‘Jesup wagon’ (named after Morris Ketchum Jesup), well honored for Mr. Jesup a philanthropist and New York financier fully supported and funded the program. Leadership functions Carver had many duties as an administrator, such as administer the Agriculture Experiment Station Farms. He manages the sale and production of farm products that generated revenues for the institute. His academic career as a teacher and researcher was stellar. What made Carver different from other professors and administrators is his determination to fulfill what he believed to be right. There were many times Booker T. Washington would voice his frustrations through letters to Carver because to the way he would administer his duties, Washington would always praise Carver for the great discoveries and hard work that has taken place. (G.W. Carver, 2011) Education is the key to unlock the golden door of opportunity.† This is how his leadership is different from the rest. He proves exactly what he stated to his life. His work became very high profile because of his more than 300 uses for peanuts, pecans, sweet potatoes and soybeans with the majority of his accomplishments of conquering the mundane. Every invention came after hours during peaceful nature walks, observing, and later testing in his laboratory. After Carver came to success, he did not cite ingenuity, though he was very blessed with it. On the contrary, he remarked that 99% of the failures come about people who have the habit of making excuses. Carver also well notes that, â€Å"When you do the common things in life in an uncommon way, you will command the attention of the world† pg. 143 of Frontage Magazine. Obstacles George W. Carver is someone whom many can only look up too when problems come into our lives for comparison sake. Carver beats the odds so well that his name should never had been heard of. His mission, determination, and story defy the odds. Being born into slavery a raider kidnapped him as an infant, and was not expected to live past the age of 21 because of poor health and being a Black scientist in the harsh times of racial segregation is beyond the norm. After the death of Carver, the United States Government erected the first national monument to honor someone other that a president. Effective Leader – Common Measures George W. Carver was best known in his time as a man of faith who believes in God as science as a gift from God. He would constantly acknowledge that his work was inspired by the works of God and God’s inspiring, and guiding him in his work. When those who wanted things from Carver such as his  secrets without the desire to work for the knowledge, Carvers replay would be, ‘God refuses to reveal the secrets of the humankind and the universe. Within the readings and teachings of the text, Carver proves his effective leadership skills for success present. To be a leader whom everyone will want to immolate, it takes the extraordinary levels of strong will, determination, someone who can listen and follow, and the ability effectively to move those whom you lead in a positive direction fostering a successful outcome. Conclusion Carver’s faith was his concern of character that his students whom he regularly taught would follow a set of cardinal virtues: ââ€"  Do not look up the rich nor down to the poor ââ€"  Be clean both inside and out ââ€"  Win without bragging ââ€"  Lose if needed but without squealing ââ€"  Be too brave to lie ââ€"  Always be considerate of women, children, and other people ââ€"  Be too generous to cheat ââ€"  Take your share of the world and let others take theirs. The world needs more women and men like George Washington Carver – people who cannot complain, strive hard and overcome adversity while focusing on the finish line ahead. Everyone does not possess the skill and knowledge of George Washington Carver but he has left us a milestone of character traits that can allow us to use as a guide while striving to achieve our goals here in this life. I like what Langston Hughes states on page 159 of Through the Fire, â€Å"Hold fast to dreams, for it dreams die, life is a broken-winged bird that cannot fly.† This goes back to how George Washington Carver spoke about excuses; they are just that, an excuse to fail. Live right, stay positive, follow the plan, persevere, and finish the race, you will for sure win. References Carver, G. W. (2011). Greatest Leaders of America History. Frontage Magazine, 32(4), 112 113. p.113 Kauzes, J., Posner, B. (2009, April). See what today will bring when you are done thinking. Whole and Complete Places, 8(13), 78 -84. p.83 Livingstrom, J. T. (1974). Through the Fire (2nd ed.). New York, NY: Harper Collins. p.154

Strategies for Atmospheric Impacts of Road Transport

Strategies for Atmospheric Impacts of Road Transport Consider the prospects for using alternative fuels to reduce the atmospheric impacts of road transport   As our world has globalised, our society has become increasingly interconnected through breakthroughs in our ability to travel from one area to another. This interconnectedness has been of economic and social benefit for people all over the world, so much so that we refer to our world as shrinking due to the ease and quickness of transport compared to that of the past. However, with this development and increase in transport our climate has been impacted. In the past exhaust gases from road traffic had, and still has, negative effects on air quality as road transport are major causes of nitrogen oxide pollution. Due to the introduction of U.S Clean Air Act of 1970 mass production of catalytic converters started in 1975 in the US and was introduced to Europe ten years later. Still, road transport became increasingly desirable for both private and business use. About 38% total fuel consumed is diesel, 60% is gasoline and 1% and 0.7% is gaseous fuels and biofuels. OECD countries are responsible for two thirds of the worlds fuel consumption (Uherek et al, 2010). Road transport vehicles produce a quantity of different harmful pollutants including nitrous oxides and particulate matter. These emission levels are particularly high in urban environments where the population is dense. The European union has set limits to the amount of pollution that populations should consume yet these limits are still breached in the densest areas where motor vehicles tend to accumulate. NOx comprises a mixture of nitric oxide (NO) and nitrogen dioxide (NO2). In the air NO is rapidly converted to NO2 which will also react in the air to form nitrate particles and ozone (O3). NO2 is a toxic gas harmful for health. NOx emissions also contribute to acidification and eutrophication, causing serious damage to ecosystems. Road transport accounts for a third of NOx emissions and is the dominant source in urban heavily trafficked areas. The average contribution of local traffic to urban NO2 and PM10 concentrations is estimated at 64% and 34%, respectively. It is estimated that around 10% of the EU urban population is exposed to NO2 levels above the EU limit value and that approximately 80% of the urban population is exposed to PM10 levels exceeding the WHO guideline value. https://www.transportenvironment.org/what-we-do/air-pollution/road-vehicles People know that road transport is harmful to the environment and yet they continue to use cars. The number of cars used is likely to only increase as third world countries develop and populations continue to rise, meaning that simply using less cars is an unrealistic solution. With this it is clear that if we are going to lower the pollution levels of cars we need to either improve their efficiency or stop using the harmful fuels they burn. Development of alternative fuels for road transport vary depending on the country and their economic standing. When oil prices went up in 1970 it promoted new interest in the idea of alternative fuels. Countries such as Brazil and the US began considering biofuels as a replacement but after a century of research and experiments alternative fuel sources still accounts for less than 2 percent of the worlds road transport fuel consumption. This 2 percent is limited to Brazil, the US and the European Union. The escape from traditional fuel sources ha s been found to be extremely difficult in the transport sector compared to others (Johnston and Silveira, 2014). One of the most commonly referred to of alternative fuels is ethanol, the most common biofuel. With the chemical formula C2H5OH it is the same alcohol found in alcoholic beverages. Used by blending it into gasoline so that it makes up 5 to 10 percent of the mixture. When looking at the characteristics of ethanol it has a lower energy content than gasoline. To reach the same distance you would require a third more ethanol than what you would need of gasoline. http://www.consumerenergycenter.org/transportation/afvs/ethanol.html Ethanol is renewable unlike our finite oil resource. Its the product of various plant materials, usually of corn, so there isnt a massive issue around being able to produce it. Ethanol works best when blended with gasoline as it has a high-octane number, fuel has a minimum octane number to ensure its drivability. http://www.afdc.energy.gov/fuels/ethanol_fuel_basics.html Figure 1 Global Ethanol Production http://www.afdc.energy.gov/data/10331 The above graph Figure 1 shows the production of ethanol in different countries over the years, what this graph is able to tell us is that production has been steadily growing with a few dips most likely down to times when other fuels were cheaper. We can also see that the USA and Brazil are consistently the greatest producers. Interest in biofuels has been growing and companys such as shell and BP are viewing them as a possible future replacement for gasoline. Ethanol made from corn creates 25 percent more energy than that which is required to grow the corn and distil into ethanol. Although ethanol creates a more effective fuel it doesnt resolve the problem that we are still heavily reliant on fossil fuels for road transport. Even though it may produce slightly lower greenhouse gas emissions its still not enough to be sustainable (Hordeski, 2009). Electric cars are more in production now than ever before with people owning and driving them, many electric cars claim zero emissions however it is argued that electric cars can be as damaging as regular gasoline powered cars. Electric cars rely on being charged to be powered. This electricity to do so comes from the local electricity network. The energy in this network has come power plants that arent emission free. In California in 2015 60 percent of electricity came from burning fossil fuels and wind and solar only accounted for and meagre 14 percent. If this is the case than does using an electric car really improve on how it impacts the atmosphere? One thing that electric cars do, however, is make air quality better in urban areas which would in turn lower pollution below the European Unions limit meaning healthier air for city residents. At night there is when electricity produced is cheapest, from natural gas, nuclear and hydroelectric dams however this is not the greenest op tion and people are more likely to charge their cars overnight, solar is of course only available during the day when theres sun meaning that its greener to charge cars during the day. Due to the grid, however, there is almost no capacity to store power created from solar and wind meaning energy is used as its produced. The only hope for this problem is future development of the grid to be able to store energy from renewables (Deb, 2016). https://www.theguardian.com/environment/2016/dec/08/electric-car-emissions-climate-change Natural gas is an odourless and colourless gaseous mixture of hydrocarbons. Liquefied natural gas and compressed natural gas is used for ease of transportation and both used as motor fuel. Natural gas is used for its availability, low cost and its benefits of emission. Vehicle that are designed to run on LNG and CNG drive as effectively as those using petroleum http://www.afdc.energy.gov/fuels/natural_gas_benefits.html In conclusion, it is clear that we must look towards alternative methods of fuel in the hopes of lowering our carbon footprint as without doing so we will only continue to produce more and more pollution. When it comes to using biofuels and natural gas they may undoubtedly provide certain benefits and improvements but in the long term they are also non-sustainable due to ethanol currently just being an additive to a finite petroleum and natural gas being a finite resource itself. Electric would be desirable especially if we were able to rely completely on renewable fuel sources such as solar and wind in the future. However, all have their flaws and only further development will create the fuel source of the future. Uherek, E et al. (2010). Transport impacts on atmosphere and climate: Land transport. 44th ed. Elsevier, pp.4772-4816.

The Absurdity of Scientific Creationism Essay -- Science Religion Essa

The Absurdity of Scientific Creationism We humans have always thought of ourselves as being unique, whether by divine sanction or by a self-established belief in superiority. For some, this understanding is intimately tied to the traditional tenets that have long been held as fact, having only recently been challenged. For modern Christians, the literal interpretation of the Bible=s account of creation has come under attack by the development and widespread acceptance of Darwinian evolution. To some, undermining the credibility of Biblical creation directly calls into question the Bible=s authority on its moral teachings. As Ken Ham, from the WGBH Boston Video Evolution Series: What About God? states, AYwhat it [the Bible] says is what it meansYit relates to the authority of scripture and the gospelsYso, if the Bible got it wrong in astronomyYgeologyYbiologyYthen why should I trust the Bible when it talks about morality and salvation? [i]@ It is no wonder with sentiments like these that the backlash against evolution has been so strong and lasting; nonetheless, it has not been until the last few decades that such a debate has moved from the pulpit to the laboratory. With a more educated and well-informed army of Christians, who believe in creationism, the scientific evidence for evolution has now come under assault. With creationists and intelligent design advocates like Henry M. Morris and Michael J. Behe respectively, the attack on Darwin is no longer argued as religion versus evolution per se, but rather one Alegitimate@ scientific theory against another. Here, we examine some of the scientific arguments presented by Henry M. Morris in his various publications. As a biology major, I find Morris= writings fascin... ...nd John D. Morris. The Modern Creation Trilogy: Science & Creation. Vol. 2. Green Forest, AR: Master Books, 1997. [xvi] http://www.ncbi.nlm.nih.gov/BLAST/ [Date Accessed: Saturday, February 1, 2003] [xvii] http://www.ncbi.nlm.nih.gov/BLAST/tutorial/Altschul-1.html [Date Accessed: Saturday, February 1, 2003] [xviii] http://www.ncbi.nlm.nih.gov/BLAST/tutorial/Altschul-1.html [Date Accessed: Saturday, February 1, 2003] [xix] Morris, Henry H. Scientific Creationism. Appleman 557-564. [xx] Morris, Henry M., and John D. Morris. The Modern Creation Trilogy: Science & Creation. Vol. 2. Green Forest, AR: Master Books, 1997. [xxi] Morris, Henry M., and John D. Morris. The Modern Creation Trilogy: Science & Creation. Vol. 2. Green Forest, AR: Master Books, 1997. [xxii] Evolution: What About God? Videocassette. WGBH Boston Video, 2001. 60 min.

Pride And Prejudice :: essays research papers

Prejudice The first sentence of the novel, Pride and Prejudice, by Jane Austin, foreshadows the end of the book. She writes, "It is a truth universally acknowledged, that a single man in possession of a good fortune, must be in want of a good wife". At first, readers would understand this in one way. However, in the second half of the novel it takes on a whole new meaning. At first this sentence takes on an ironic meaning, because it is commonly understood that it is the woman who is in pursuit of a wealthy gentleman (and not the man pursuing the woman as stated). Austin also seems to prove this understanding of the quotation in the first half of the novel in her use of Mr. Collins and Charlotte Lucas. In the novel, Mr. Collins has established himself by working for Lady Catherine de Bourgh, an extremely wealthy woman. Also, once Mr. Bennet dies, Mr. Collins is due to inherit his entire estate. Therefore, a man who is supported by that amount of money would seem to be quite a catch, to someone with less money. However, after listening to him talk, it is quickly revealed that he is utterly ignorant. On the other hand, Charlotte is his complete opposite. Charlotte is an extremely sensible and intelligent girl, but she has little money. Although Mr. Collins could obviously never satisfy Charlotte as a husband, Charllote agrees to marry him for his money. Hence the original understanding of the quotation at the start of the novel seems to be justified. Mr. Darcy also seems to follow this quotation. He believes that woman would marry him for his wealth and status no matter what. Therefore, when he falls in love with Elizabeth he does not treat her with the preferential treatment with which one would normally treat his beloved. Instead he treated her with the same condescending and proud manner as he would any other person. Afterall, all good wives are in want of a wealthy man. Darcy soon changes his philosophy (and hence one must understand the quotation d ifferently) after Elizabeth refuses his proposal. This incident proves that a woman does not necessarily need to find a rich man to marry. Afterall, this is now the second time that Elizabeth has rejected the proposal of a man with more wealth than she. It is clear that Darcy changes his whole philosophy on the subject after this rejection.

Women as Victims in the Media Essay -- Feminism Feminist Women Critici

Women as Victims in the Media      Ã‚   One interesting aspect of murder is the way it is portrayed in different forms of media. In particular the way female murder victims have been portrayed over time reflects the social norms of the period. Focusing on the way murdered females were portrayed in various forms of media, beginning in the late eighteenth century in the United States and ending with the present day representations in film it is evident that a traditional style of portraying dead women has continued to pervade society through the twentieth century.    Stories, either fictional or based on actual events, began around 1800 portraying women victims as young, unmarried, beautiful and innocent. Their deaths were portrayed as resulting from a loss of innocent, generally through premarital sexual contact. The descriptions of the dead bodies were graphic and occasionally erotic in nature. (Cohen, 277-306) These descriptions came at a time when the literacy rate was rising rapidly and the relatively free attitude towards premarital sex was changing to a more restrictive ...

A Farewell to Arms Film vs Text Essay

Put Out on the First â€Å"Date†: The Selective Representation of Hemingway’s A Farewell to Arms The deeply philosophical work of Ernest Hemingway was taken under artistic license and possibly political agenda when it was produced in film. In A Farewell to Arms, Hemingway paints, with broad strokes of disillusionment, over the ideals of honor, war and love as a preoccupation or distraction from the realities of life. The reader is left with the impression of the constant human drive to distract itself whether with alcohol, violence, anesthesia or passion. But the film focuses on the love story and the trials it faces through a backdrop of faith and war. The alterations made in the representations of the characters, love and war leave the viewer with only a hint of the deeper questions presented in the novel. Lieutenant Frederic Henry is portrayed in novel as a generally well disciplined, reserved and good natured. He did not partake in the teasing of the priest despite his lack of faith and even endeavored to mollify any perceived slights with the man. Henry could never muster any reason for joining the Italian army other than just being in Italy at the time and speaking the language. He does not feel any particular allegiance, even having the opinion that, â€Å"It was impossible to salute foreigners as an Italian, without embarrassment† (Hemingway 23). Henry just doesn’t seem to care one way or the other which army he was a part of so long as the action would distract him from anything else. In the novel, he assists a man trying to get away from the front line, grows attached to a woman because she is there, becomes an alcoholic, and shoots men in his command because they wouldn’t help with the retreat. And yet these actions were permissible in the fact that they were a result of his circumstance and not his character. He was presented to the reader as a man ever looking for something to occupy his mind and body from reality. In the film however, all of these actions were cut out except for the ones involving Catherine. An entirely different character is established when he brushes aside the feelings of his friend when he obstinately steals Catherine’s attention from him and proceeds to deflower her in a church courtyard. Catherine was not as altered in the transition to the silver screen, other than the omission of her initial recollections of her dead fiance and her deception and going off pregnant and on her own when Henry must return to the front line. The complications that were involved with the development of her character in the novel slightly mistranslated in the film as seeming as though she was constantly living in a dream world, refusing reality. While she certainly was not alone in her delusions of enduring happiness in the text, she was portrayed as alone in the film for most of her pregnancy. In the novel there was constant discourse with Henry as the two of them were away in the country or sequestered away in some hotel room. In the film there is a hint of feminism when Catherine’s friend Ms. Ferguson complains about the current role of women in the war and her reoccurring dismay on her own loneliness. The role of women was going under a reconstruction, though not as hot a topic it would become after the Second World War. The war, itself, is incredibly downplayed in a total screen representation of perhaps ten minutes. The simplistic but enthralling manner in which Ernest Hemingway writes his chapters regarding the war effort are completely thrown away in order to film a romance. There is camaraderie among the soldiers and an active lifestyle that Henry misses while he is away with Catherine in the country. The war was not something that this industry was trying to sell; it was trying to promote it as a needless obstacle to happiness where the novel simply presented it as a function of man. When reading this novel, the idea of love fell into the same ideals that Henry found empty and overused. But, the film portrayed the romance as a definite and overpowering thing. In the text, this couple was simply juxtaposed and a romance ensued. There was a war going on and people were dying. That hovering reality drives a person to find solace in any way they can. In the film, Henry is portrayed as a man on the hunt and Catherine was easy prey. They are not described as being sexually intimate until much later in the story, and while this could have been interpreted as the first time any actually feeling emerged between the two, it was an incredibly liberal interpretation that the nurse put out in the first encounter—considering Catherine, Henry, Ferguson, and Rinaldi were all present at the occasion. In the novel, love was an aspiration and a preferable occupation no matter what time you have with a person or their past. Catherine seems to still have her ex fiance in her mind when she comments on vague differences between him and her new suitor such as, â€Å"‘You don’t pronounce it very much alike’† (Hemingway 31). It was simply a convenient affair of emotions that kept a man and a woman’s mind off of the war. But the movie did not include these subtleties that amassed into disillusionment. The end of the film there is a dramatic scene in which Henry soothes Catherine’s fear of abandonment and she bravely dies and he lifts her up in his arms, pulling the white sheets with him off the bed as church bells ring out into the rain. This is a much more romanticized version of the, â€Å"she was unconscious all the time, and it did not take her very long to die† (Hemingway 331). The novel was rich in anti-illusion and focused on the realities of humanity and life, but the film only hinted at these themes. People will find distraction from pain, even if the actions cause more pain. All ideals of honor, loyalty, and love will be a threat to rationality. But the drive for distraction is natural. After Henry leaves the effort of the war he feels like he has no purpose in life. In a discussion with Catherine he explained the usefulness of the distraction that was the war, â€Å"‘that’s how I worked it at the front. But there was something to do then’† (Hemingway 257). The film cuts this portion out of the story as well as invents its own drama as Catherine hides the fact she is pregnant and runs away to Switzerland and letters are kept from their recipients. This added drama ironically adds to the message the book sends of the need for drama as distraction from an uncomfortable reality. Seeing Henry doubt his actions after reuniting with his love and seeing that even real emotion is fleeting in life is not what the movie would ruin the romance. Aristotle coveted the unity of time, place and action as the key to enthralling an audience—and this could be an excuse snatched up by the film industry, but cutting so much from the novel changes the message of the story. The farewell in A Farewell to Arms is both to the conflict of war and his current preoccupation of love as Henry and the reader is left to finally face the harsh and hollow realities of life. Works Cited Hemingway, Ernest. A Farewell to Arms. New York: Scribner Classics, 1997. Print.

The Retail Inventory-Level Planning

Retail Inventory-Level Planning consists of retail inventory method (RIM) which is an accounting procedure whose objectives are to maintain a perpetual. It also can book inventory in retail dollars amounts and to maintain records that make it possible to determine the cost value of the inventory at any time without taking a physical inventory. Also known as book inventory system or perpetual book inventory. Retailers also have another important choice to make the stock to sales ratio. The stock to sales ratio is derived directly from the planned inventory to determine monthly additions to stock in the merchandise budget plan. Retailers generally think of their inventory at retail price levels rather than at cost. Retailers use their initial markups, additional markups, and markdowns, and so forth as percentages of retail. When retailers compare their prices to competitors†, they use retail prices. The problem is that when retailers to design their financial plans, evaluate performance, and prepare financial statements, they need to know the cost value of their inventory. Retailers use physical inventories. This process is time consuming and costly. Retailers take physical inventories once or twice a year. Many retailers use point of sale terminals that keep track of every item sold its original cost, and its final selling price. The rest of the retailers face a problem of not knowing the cost value of their inventory at one time. These retailers with either computerized or manual systems can use retail inventory method. Their are five advantages for using RIM over a system of inventory at cost. The does not have to â€Å"cost† each time. When retailers have many SKUs, keeping track of each item becomes difficult and expensive. It is easier to determine the value of inventory with the retail prices marked on the merchandise than unmarked or at coded cost prices. The second advantage for using RIM is that it follows the accepted accounting principal of valuing assets at cost or market value, which is lower. This system lowers the value of inventory when markdowns are taken but does not allow inventory†s value increase with additional markups. When using RIM, the amounts and percentages of initial markups, markdowns, and shrinkage can be identified. This information can then be compared with historical records or industry norms. RIM is useful for determining shrinkage. The difference between the book inventory and the physical inventory can be attributed to shrinkage. The book inventory determined by RIM can be used in an insurance claim in case of a loss. The disadvantages of RIM are system that uses average markup. When markup percentages change during a period or when the inventory on hand at a particular time is not representative of the total goods handled in terms of markup, the resulting cost may be distorted. The inventory turnover, merchandise budget planning, open to buy, all these should be applied to the RIM category basis to avoid the problem. There are four steps in when calculating RIM. Calculate total goods handled at cost and retail, calculate retail reductions, calculate the cumulative markup and cost multiplier, and determine ending book inventory. Calculating the total goods handled in at cost and retail to determine the total goods handled at cost and retail: 1. Record beginning inventory at cost and at retail. The initial markup is reflected in the retail inventory. 2. Calculate net purchases by recording gross purchases and adjusting for merchandise returned to vendor. 3. Calculate net additional markups by adjusting gross additional markup cancellations. Note: These are recorded only at retail because markups affect only the retail value of inventory. 4. Record transportation expenses. Here transportation is recorded at cost because it affects only the cost of the inventory. 5. Calculate net transfers by recording the transfers in and out. A transfer can be from one department to another or from one store to the next. Transfers are generally made to help adjust inventory to fit demand. A transfer is, in effect, just like a purchase (transfer in) or a return (transfer out). Thus, it is recorded at both cost and retail. 6. The sum is the total goods handled. Calculating retail reductions are the transactions that reduce the value inventory at retail (except additional markup cancellations, which were included as part of the total goods handled). Reductions are calculated as follows: 1. The largest reduction in inventory is sales. Gross sales are reduced to net sales by deducting customer returns and allowances. 2. Calculate markdowns, are derived by subtracting any markdowns from gross markdowns. 3. Record discounts to employees and customers. 4. Record estimated shrinkage is used to determine the ending book inventory if the buyer has prepared an interim financial statement. Estimate shrinkage would not be included if a physical inventory were taken at the same time. The difference between physical inventory and book inventory would be the amount due to loss. Next, a retailer has to calculate the cumulative markup and the cost multiplier. The cumulative markup is the average percentage markup for the period. It is calculated like this: Cumulative markup total retail The cumulative markup can be used as a measuring stick against the planned initial markup. If the cumulative markup is higher than the planned initial markup, then the Category is doing better than expected. Cost multiplier =($100-cumulative markup %) The cost multiplier is used in the next step to determine the ending book inventory at retail price. The final step in the process is determining the ending book inventory at cost and retail. Ending book inventory at retail = total goods handled at retail – total reductions The ending book inventory at cost is determined the same way that retail has changed to cost. Ending book inventory at cost = ending book inventory at retail * cost multiplier When using the RIM retailers generally use the average beginning of month (BOM) stock to sales ratio. This is taken from the planned inventory which was taken from the RIM. This is used to determine monthly additions to stock in the merchandise budget plan. The BOM is broken down into three different methods week†s supply method, basic stock method, and percentage variation method. The week†s supply method is the inventory management method is the most similar to the stock to sales method. The difference between the two is that everything is expressed in weeks rather than months. The average BOM stock to sales ratio is equal to months in the period divided by the planned inventory for the period. â€Å"If the plan is for 12 months and planned turnover is 6, the average BOM stock to sales ratio = 12/6=2. Using the week†s supply method, 52 weeks are substituted for 12 months. Thus, 52 weeks 6 turns =8.66 weeks of supply. This means the buyer is planning to have 8.66 weeks of supply at the beginning of the month. (Of course, 8.66 weeks is equivalent to two months.)† The basic stock method is the inventory management method used to determine the BOM inventory by considering both the sales forecast for the month and the back-up stock.