Why is it important to track inventory? What does this information tell you about your business?

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Personal Finance

ISBN: 978-0134724713

4th Canadian edition

Authors: Jeff Madura, Hardeep Singh Gill

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Question Posted: Jul 26, 2013 06:21 AM

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1. What inventory system do you use and why? What are its advantages and disadvantages? 2. What activities should you perform to correctly account for your inventory at year-end?
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Date March 1 Activities Beginning inventory March 5 Purchase March 9 Sales March 18 Purchase March 25 Purchase March 29 Sales Totals 70 units 210 units Units Acquired at Cost @$50.40 per unit @...

Why is it important to track inventory? What does this information tell you about your business?

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It is important to track inventory because it constitu...View the full answer

Personal Finance

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