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Managing Inventory Quantity Efficiently

Learn how to determine merchandise inventory accurately using stock records and periodic inventory methods. Record purchase and sales data to calculate total costs. Review inventory terms for better understanding.

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Managing Inventory Quantity Efficiently

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  1. LESSON 19-1 Determining the Quantity of Merchandise Inventory

  2. INVENTORY RECORD page 566 1 3 2 1. Write the stock number and description before the periodic inventory begins. 2. Write the actual count in the No. of Units on Hand column. 3. Write the unit price and calculate the total cost after the physical inventory is completed. LESSON 19-1

  3. STOCK RECORD page 567 1 3 2 1. Purchase information 2. Sales information 3. New balance on hand LESSON 19-1

  4. TERMS REVIEW page 568 • periodic inventory • perpetual inventory • inventory record • stock record • stock ledger LESSON 19-1

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