Question: What do you understand by 'inventory control'. State its objects.

What do you understand by 'inventory control'. State its objects.

Step by Step Solution

★★★★★

3.36 Rating (168 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Inventory control refers to the process of managing and regulating a companys inventory which includ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Cost Accounting Questions!

Q:

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Q:

Kapur foods are manufacturers of cereal products with manufacturing plants in Ludhiana, Hisar, Amritsar, Meerut and Rampur. Company processes of transforming grains into cereal products begins on the...

Q:

1. It is often said that you cant control what you cant measure and you cant manage what you cant control. Measurement is, therefore, considered to be at the heart of managing business processes,...

Q:

What trade-offs confronts the financial manager with regard to inventory turnover, inventory cost and stock outs? In what way is inventory viewed as an investment? Why is it important for the...

Q:

Why is it important for the financial manager to understand the inventory control techniques used by production/operations managers? How does controlling inventory impact a firms profitability?

Q:

As an expert in inventory control, state any ten (10) challenges that the Inventory Controllers are likely to face in those warehouses based in African countries with lock down

Q:

I. INTRODUCTION In the upcoming pages of this article, Working Capital and its related concepts are discussed in a vivid manner for a clear understanding of the vital business aspect. The prime...

Q:

Old MathJax webview Assignment 1 Is GATSBY MANUFACTURING INC. a multi-product company producing products that are unique in character and distinguishable from each other? How many segments or product...

Q:

Part I: Class Design Write a class, Formula, that represents a way of converting resources into other resources. A Formula has one or more input resources and one or more output resources, including...

Q:

please help me to write introduction and conclusion of this summary Paragraph In this lecture, I learned about operational management and how to use the company's capital such as technology, labor,...

Q:

Describe the accounting for the issuance for cash of no par value common stock at a price in excess of the stated value of the common stock .

Q:

A 3 ft deep fish pond in the shape of a hemisphere has a volume of 56.549 ft3 when it is full. These data have been collected relating depth to volume in the pond: a. Find the equation of the least...

Q:

Investors Will Likely Prefer . . . More Dividends Fewer Dividends When an investor dies, his or her heirs are not liable for taxes on the capital gains generated during the investor s life. They are...

Q:

Critical Thinking Suppose you are assigned the number 1, and the other students in your statistics class call out consecutive numbers until each person in the class has his or her own number. Explain...

Q:

Name three factors that will affect the classification of a cost as direct or indirect.

Q:

Name three factors that will affect the classification of a cost as direct or indirect.

Q:

Name three factors that will affect the classification of a cost as direct or indirect.

Q:

to include a few new accounts. Follow the instructions on the Requirements tab to complete the accounting records for the month of January DATE TRANSACTIONS Jan.2 Purchased supplies for $14,000,...

Q:

The cash conversion cycle is not 1.the time required to convert accounts receivable into cash. 2.the average collection period for receivables plus the days inventories outstanding less the days...

Q:

Which of the following is a variables cost? A) rent B)loan interest rate C) salesperson's commissioner D) salary