Inventory is a record of finished goods of a company which they can sell to the customer, work in progress which they can be transform into finish good and raw material which is a means of production. Inventory is also classified as current asset in the balance sheet and it is valued by FIFO, LIFO,specific identification and weighted average method. To determine: the current and proposed condition of company’s inventory turnover.

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Chapter 5, Problem 5BTN

a.

Summary Introduction

Introduction:

Inventory is a record of finished goods of a company which they can sell to the customer, work in progress which they can be transform into finish good and raw material which is a means of production. Inventory is also classified as current asset in the balance sheet and it is valued by FIFO, LIFO,specific identification and weighted average method.

To determine:the current and proposed condition of company’s inventory turnover.

b.

Summary Introduction

Introduction:

Inventory is a record of finished goods of a company which they can sell to the customer, work in progress which they can be transform into finish good and raw material which is a means of production. Inventory is also classified as current asset in the balance sheet and it is valued by FIFO, LIFO,specific identification and weighted average method.

To determine:the current merits of proposed analysis of inventory turnover.

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