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POA Chapter 12: Inventory

This class was created by Brainscape user hei chin low. Visit their profile to learn more about the creator.

By: hei chin low
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Decks in this class (6)

12.1 What is Inventory?
Define inventory what is inventory,
Define goods,
What does a trading business do
5  cards
12.2 How is inventory accounted for?
Which inventory recording method ...,
What happens when a business buys...,
What happens if the business were...
12  cards
12.2 How is inventory accounted for? (Cost of Purchases)
Where is the cost of the purchase...,
What does the cost of purchases i...,
Specifically what does the cost o...
6  cards
12.3 How is the cost of sales calculated?
What is a trading business most l...,
Is the cost for each purchase lik...,
As every item purchased by the bu...
8  cards
12.4 What happens when the value of inventory falls below its cost?
What does a trading business do,
How is inventory recorded in the ...,
What must the business do when th...
16  cards
How would an error in valuation of inventory affect the accounts?
What happens when an error is mad...,
Error in the valuation of invento...,
Error in the valuation of invento...
5  cards

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POA Chapter 12: Inventory

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