Episode 39 - Inventory Management

Coffee Time with Marie Torossian CPA

In this week's episode, we talked about Inventory Management.

1. What is inventory management?
2. Why do you need to consider inventory management policies?
3. What are the accounting & policy guidelines for inventory?

a. Cost methodologies: FIFO, LIFO, & Weighted Average

b. Inventory Accounting Systems: Periodic vs. Perpetual

c. Optimum Inventory Levels

d. Quality Control Procedures

e. Issuing and accounting for samples

f. Inventory Count

g. Disposals, Scrap & Shrinkage

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Gratefully,

Marie