Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883



Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883
Textbook Problem

Just-in-time principles
The chief executive officer (CEO) of Kankakee Industries has just returned from a management seminar describing the benefits of the just-in-time philosophy. The CEO issued the following statement after returning from the conference:
This company will become a just-in-time manufacturing company. Presently, we have too much
inventory. To become just-in-time, we need to eliminate the excess inventory. Therefore,
I want all employees to begin reducing inventories until we are just-in-time. Thank you for your
How would you respond to the CEO's statement?

To determine

Concept Introduction:

In just in time methodology manufacturer receive RAW Material for production of finished goods when these are actually required in manufacturing process, thereby this process eliminate storage cost and other costs.

To Prepare:

To determine whether statement of CFO is correct or not.


Inventory can be reduced after implementing Just in time. So CFO is correct while saying "I want all emp...

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