Sometimes you can be holding inventory, and it is not yours. Other times you can have inventory with a customer that is still yours. For example, consigned inventory is inventory being he
Sometimes you can be holding inventory, and it is not yours. Other times you can have inventory with a customer that is still yours. For example, consigned inventory is inventory being held by retailers but owned by the manufacturer.
Knowing when ownership inventory passes from you to your customers or from your suppliers to you is important when properly stating your inventory balance on the balance sheet and your cost of goods sold on the income statement.
Respond to the following in a minimum of 175 words:
- What are two reasons some industries have inventory on consignment?
- Why would a company care about which inventory valuation method it uses—LIFO, FIFO, or average? Provide an example to support your answer.
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
