Describe measures to control merchandise inventory.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 28GI
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Describe measures to control merchandise inventory.
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Control over merchandise inventory: For a merchandise business, maintaining an effective control over its inventory is considered very important for the successful business. Proper control over the merchandise inventory ensures that the purchase and sale of the inventories are authorized and have been accounted for.
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