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A former Victorian building which began life as the Carmarthenshire, Pembrokeshire and Cardigan County Asylum is to be converted into a health park for all.<br/>The new owners of the Parc Dewi Sant site in Carmarthen have announced plans to convert the former Victorian asylum into a medical park with health and wellbeing benefits for the whole community. <br/>Parc Dewi Sant Limited has acquired almost all of the 38-acre site from Carmarthen County Council after the council put the location up for sale. <br/>A number of NHS services currently operate on the site, and there is also a Swansea University facility teaching student nurses. All existing organisations on the site will retain their tenancy rights. <br/>Parc Dewi Sant Limited wants to develop the medical provision on the site while protecting the 22 buildings, many of which are listed. They include an ornate Victorian chapel, and a theatre. <br/>The plans include retaining and recruiting both NHS and private health providers, especially in occupational health, and providing serviced clinical offices. <br/>Other facilities will include a gym and a walking track, which will be accessible to local community including dog owners. <br/>A spokesperson for Parc Dewi Sant said: “We want to create a hub for medical, well-being and leisure facilities which is accessible for everyone in the community. By bringing top quality healthcare providers to the area, we aim to support the health and well-being of the local population. <br/>“We are already in discussions with a number of healthcare providers, including a private GP practice, and would welcome discussions with anyone who wants to be part of a modern and vibrant health hub. <br/>“Taking on so many listed buildings is a significant financial commitment. However, we are fully committed to protecting these outstanding buildings and their history, while ensuring they have a meaningful purpose to serve the local community for years to come.”<br/>The new owners of the site have a large portfolio of residential, commercial and office developments throughout Wales, including many period properties.<br/>Their vision for Parc Dewi Sant will transform and bring life and vibrancy back to the iconic estate which began life in 1865 as the Carmarthenshire, Cardigan and Pembrokeshire County Asylum.<br/>The hilltop hospital expanded and had more than 900 beds by the early 1970s. <br/>For more information about the plans visit: http://www.parcdewisant.co.uk/
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Inventory and Cost of Goods Sold (COGS) are closely related concepts in accounting, particularly in the context of manufacturing, retail, and other inventory-based businesses.<br/><br/>Inventory:<br/>Inventory refers to the goods that a company holds for the purpose of selling to customers in the ordinary course of business. It includes raw materials, work-in-progress (partially completed goods), and finished goods awaiting sale. Inventory is classified as a current asset on the balance sheet because it is expected to be converted into cash or sold within the normal operating cycle of the business.<br/>Cost of Goods Sold (COGS):<br/>COGS represents the direct costs associated with producing the goods that a company sells during a specific period. It includes the cost of materials used in production, direct labor costs, and overhead costs directly attributable to production activities. COGS is reported on the income statement and is deducted from revenue to calculate gross profit.<br/>The relationship between inventory and COGS is straightforward:<br/><br/>At the beginning of an accounting period, the company has a certain amount of inventory on hand from the previous period.<br/>During the period, the company purchases additional inventory, produces goods, and sells products to customers.<br/>The cost of the inventory sold during the period is recorded as COGS on the income statement. This amount is calculated based on the cost of the inventory that was on hand at the beginning of the period, plus any additional inventory purchases made during the period, minus the value of inventory remaining at the end of the period (ending inventory).<br/>Ending inventory is reported as a current asset on the balance sheet, representing the value of unsold goods at the end of the accounting period.<br/>In summary, inventory represents the goods a company holds for sale, while COGS represents the cost of those goods that have been sold during a specific period. Tracking inventory and accurately calculating COGS are critical for determining a company's profitability and managing its cash flow effectively.
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