Chapter 6 inventory turnover L3

Chapter 6 inventory turnover L3 - Chapter6 Lecture3...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 6 Lecture 3 Inventory Turnover and Final Remarks In Chapter 6 we have looked at the basic characteristics of the most common  inventory systems.  Stress on the word basic.  As you continue with your  accounting education to the intermediate level you will study inventory valuation  in greater depth. AS those of you in field already know, there can be some  differences between textbook accounting and real world. In practice, business  often modifies these systems to fit their particular needs.  Additionally, large  business will use several different methods depending on the products they  manufacture or sell.  For example, if you pick up Boeing Annual report you will  see in their notes that they use three methods, FIFO, weighted average, and  specific ID.  Different inventory systems for different purposes.  Inventory Turnover Rate. The Inventory turnover rate indicates how many times in the course of one year 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/10/2011 for the course ACCOUNTING 201 taught by Professor Notsure during the Spring '11 term at Edmonds Community College.

Page1 / 2

Chapter 6 inventory turnover L3 - Chapter6 Lecture3...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online