answersLogoWhite

0

What is meant by compilation?

User Avatar

Anonymous

9y ago
Updated: 3/25/2022

Inventory compilation is used by a company when reconciling physical inventory with perpetual inventory records and consists of the following procedures: counting the physical inventory, correctly summarizing the quantities, extend prices times quantities, and foot the extensions. Totals should agree with the amounts recorded in general ledger.

What else can I help you with?