Inventory Variance definition

Inventory Variance means the difference between the value of the inventory as determined from the perpetual inventory report on any Count Date and the value of the inventory established by a cycle count or physical inventory on the date the inventory was received by Accretive Commerce or the previous Count Date; provided, however, that for purposes of determining the Inventory Variance, prices shall be deemed to be constant regardless of any intermittent price changes. The value of any adjustment made at any time to the perpetual inventory report shall be added to or subtracted from, as the case may be, the Inventory Variance for the purpose of calculating Merchandise and Non-Merchandise Inventory Shrinkage.
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Inventory Variance has the meaning provided in Section 1.8(b) of the Agreement.
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Examples of Inventory Variance in a sentence

  • All references in the UPA to Closing Inventory Value are hereby replaced with references to Closing Inventory Variance Value.

  • The Estimated Inventory Value calculated pursuant to Section 1.8 (the “Initial Inventory Payment,” and together with the Cash Amount and the Equipment Payment, the “Closing Payment”) payable at Closing and subject to adjustment for any Inventory Variance in accordance with Section 1.8.

  • Since the COGS Amount represents 19.12% of COGS for the Microsoft business, $1,625.00 would then be divided by 19.12% resulting in an Aggregate Customer Inventory Variance Amount for Microsoft equal to $8,498.95.

  • The value of any Non-Merchandise Inventory that is damaged at the Facility shall be added to the Non-Merchandise Inventory Variance for the purpose of calculating Non-Merchandise Inventory Shrinkage.

  • The parties acknowledge and agree that the Aggregate Customer Inventory Variance Amount has been determined to be $362.00.

  • The Initial Payment shall be reduced dollar for dollar by the Aggregate Customer Inventory Variance Amount, if any, determined for each Existing Customer and Buyer shall assume Seller’s obligation to reimburse or pay the Existing Customers for any actual Customer Inventory variance regardless of whether the actual amounts of such variances equate to the Aggregate Customer Inventory Variance Amounts which reduce the amount of the Initial Payment as provided above.

  • The Aggregate Sample SKU Variance shall then be divided by the percentage of cost of goods sold (“COGS”) such SKU’s represent to determine the estimated amount of Customer Inventory variance across all of the Customer Inventory (the “Aggregate Customer Inventory Variance Amount”).

Related to Inventory Variance

  • Inventory Value means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but the trustee may use any value finally determined for the purposes of an estate or other transfer tax;

  • Inventory Appraisal means the most recent inventory appraisal conducted by ▇▇▇▇▇▇ ▇ or another independent appraisal firm and delivered pursuant to Section 5.07(c) hereof.

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

  • Inventory control system means a system described in Section 4-41a-103.