Inventory control: turnover, lower of cost or net realisable value and security

What this note covers

1. Inventory control is more than the card
2. Inventory turnover in times
3. Converting turnover into days on hand
4. The lower of cost or net realisable value rule
5. Worked example: writing inventory down to net realisable value
6. Storage, security and minimising stock loss
7. How inventory control is examined and what separates a top response

7 sections · 11 key terms & formulas · 6 common mistakes