1. If you were starting up a business would you consider selling your inventory on consignment? Why or why not?

2. Why should there be different types of inventory cost formulas? Wouldn’t it be easier if all companies followed the same method?

3. If inventory errors offset in future periods, would it still be necessary to adjust inventory if you know about the errors?

Answer rating: 100% (QA)

Answer 1 Selling goods on consignment is described as a situation whereby goods are shipped to a dealer who pays you the consignor only for the merchandise which sells The dealer referred to as the co... View the full answer