Monday, February 9, 2015

Day 21 - Inventory Basics Review


  1. Flow of paperwork
    • Purchase Requisition
    • Purchase Order
    • Packing Slip
    • Receiving Report
    • Invoice
  2. Cost Flow Assumptions
    • FIFO
      • favors financials
    • LIFO
      • lowers taxes
    • Average Cost
  3. Perpetual System
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