INTRODUCTION

1. This chapter outlines the controls and the procedures that are unique to CANEX Retail Stores.

TYPE OF OUTLETS

2. This category pertains to outlets that sell primarily general merchandise and includes, but is not limited to, retail stores and SuperMarts.

DEPARTMENTALIZATION

3. Sales shall be departmentalized in accordance with Chapter 41.

INVENTORY ACCOUNTABILITY

4. Inventories shall be maintained and controlled by the Retail Accountability Method.

5. The Retail Accountability Method used by the outlets is outlined in Chapter 25.

PURCHASES

6. Procedures for the ordering and receiving of merchandise along with the processing of invoices are outlined in Chapter 51.

TRANSFERS

7. Transfers shall be made in the manner outlined in Chapter 22.

SALES

8. The accounting for sales and the submission of Daily Sales Reports (DSRs) to the NPFAS shall be as outlined in Chapter 18.

9. Credit sales are authorized for use in the Retail Stores as outlined in Chapter 52.