In this week's episode, we talked about Inventory Management.
- What is inventory management?
- Why do you need to consider inventory management policies?
- 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
If you enjoyed this episode, Subscribe/Follow, Like and share so that more business owners can benefit from this knowledge!
Do you have a question?
Email your questions to marie@marietorossiancpa.com and we will answer your questions in the upcoming episodes.
Gratefully,
Marie
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