Inventory Records
Following are the records maintained for inventory management Purchase Requisition NoteIndentGoods Receipt NoteJob Order (In/Out)Material Issue NoteMaterial Return NoteProduction ReportDelivery NoteRejection InwardRejection Outward
Inventory Valuation
The accounting method that a company decides to use to determine the costs of inventory can directly impact the balance sheet, income statement and statement of cash flow. There are three inventory-costing methods that are widely used by both public…