Why would perpetual inventory records be preferable to periodic inventory records in a manufacturing company?
Answer to relevant QuestionsWhy is it important to separate the functions of inventory control and the production stations? How can programmed controls within the IT system for conversion processes enhance internal controls? Some companies use the same facility for both inventory stores and warehousing. Describe the difference between these two inventory control activities, and how the respective areas might be distinguished within the facility.Explain how the over-production of inventories can be seen as unethical in an absorption costing environment.What advantages would motivate management to conduct fraud related to source of capital processes?
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