What are the different inventory accounts? What types of costs
are factored into a retailer’s inventory accounts and what types of
costs are factored into a manufacturer’ inventory accounts?
What factors might influence a company’s management selection of
a one inventory cost flow assumption versus another?
Describe the situations in which the gross profit method of
estimating inventory would be useful.
What does valuation imply and why is it particularly important
to inventory? What special concerns should companies address as...
Chapter Five mentions two different types of inventory
systems: periodic inventory and perpetual inventory. Reflect upon
these two types of inventory while answering the following
questions: In YOUR OWN words, what is the main
difference between these two types of systems? Provide a
real-world example of businesses and/or locations that may
use EACH type of inventory. Perhaps you have already
worked for a company who uses one or the other. (You should have a
total of two well-thought out examples....
Think about the types of inventory systems used in business?
Now that you selected the inventory, briefly describe a business
you would like to own or run, and choose the best inventory system
for that business?
State why you made your choice as you did by stating advantages
and disadvantages.
Which of the following is NOT one of the four main types of inventory?
A. raw material inventory
B. work-in-process inventory
C. maintenance/repair/operating supply inventory (MRO)
D. just-in-time inventory
E. finished -goods inventory Reset Selection
Explain the difference between perpetual and periodic inventory
systems. What types of businesses would use each system and what
are the advantages and disadvantage of each.