Antonio Banderos & Scarves makes headwear that is very popular in the fall-winter season. Units sold are anticipated as follows:   Monthly Unit Sales October 1,350 November 2,350 December 4,700 January 3,700 Total units sold 12,100 If seasonal production is used, it is assumed that inventory will directly match sales for each month and there will be no inventory buildup. However, Antonio decides to go with level production to avoid being out of merchandise. He will produce the 12,100 items over four months at a level of 3,025 per month. What is the ending inventory at the end of each month? Compare the unit sales to the units produced and keep a running total. Note: Leave no cells blank be certain to enter '0' wherever required.   If the inventory costs $4 per unit and will be financed at the bank at a cost of 12 percent, what is the monthly financing cost and the total for the four months? (Use 1 percent as the monthly rate.) Note: Leave no cells blank be certain to enter '0' wherever required.

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.