inventory valuation

inventory valuation is the accounting method that companies choose to use to conclude its inventory costs can openly contact the balance sheet, income statement and statement of cash flow. Inventory Methods have following methods: Specific Identification method: The average cost methods obtain the average of all units obtainable for sale throughout the accounting period.First-In, First-Out (FIFO) method, Last-In, First-Out (LIFO) method, Average Cost method

Controlling and Costing Materials

Controlling and Costing Materials: After studying this chapter you should be able to: Effective materials management is essential in order to (1) provide the best service to customers, (2) produce at maximum efficiency, and (3) manage inventories at predetermined levels to stabilize investments in