Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 6 - Reporting and Analyzing Inventory - Questions: 1

Answer

It is true that the key to successful business operations is effective inventory management.

Work Step by Step

With an effective inventory management, the business enterprise, can reduce the working capital requirement, save on storage cost, save on item becoming obsolete and also the chances of pilferage, leaks, spoils, waste etc. if we calculate all these benefits in monetary terms and add them, it will be a huge amount and the profits of business can go high.
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