If you don't know what your supervisor means by that, then the first thing you should do is get clarification from your supervisor. Ask him/her how he/she would like it done.
# Ask for the inventory forms. # Count stock # Note if any are out-of-code - bring these to your supervisor's attention. # Make sure stock is arranged so oldest product is used first.
Count Them
Count them
You count up how many of each type of can is there.
It means that cans suck and they eat chickens that are stuffed with pumpkin soup.
The factor that determines whether or not goods should be included in a physical count of inventory is physical possession or ownership of the goods. Only goods that are owned by the company and physically present in its possession should be included in the physical count. Goods that are on consignment or held on behalf of others should not be included in the count.
inventory of goods defined
Inventory Turnover Ratio = Cost of Goods Sold / Average Inventory and Average Inventory = ( Beginning Inventory + Ending Inventory ) / 2
You should offset it to Cost of Goods sold. It should be done thru Write-off of Goods.
no it's not
The cans that have been in the cupboard the longest.
Yes. If the canned foods are contaminated by a person suffering from the disease.
Inventory is capitalized on the balance sheet as a current asset. Inventory is increaseed by items purchased (direct materials or finished goods), costs incurred in creating a product (for manufacturers), and an allocation of overhead to the creation of the product. As inventory is sold, the cost of the inventory sold is recorded by reducing inventory (a credit) and increasing Costs of goods sold (a debit).