Stock and Work in Progress: The Blood Sucking Vampire

  • Keron Bhattacharya


The switch to FIFO enabled Chrysler to charge lower costs against revenues. By virtue of the change, the company was able to declare a profit of $7.6 million in the fourth quarter of 1970; without the change it would have had to declare a loss of $3.6 million (New York Times, 10 February 1971).


Stock Issue Account Standard Term Contract Stock Valuation Contract Balance 
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Notes and References

  1. 1.
    SSAP 9 and its corporate implications: Keron Bhattacharya, “SSAP 9 and its corporate implications”, Accountancy (October 1976).Google Scholar
  2. 2.
    Synopsis of article on SSAP 9: J. Lewis Brown, Management Accounting (February 1980).Google Scholar
  3. 6.
    Inventory profit: Peter Drucker, Managing in Turbulent Times (London: Pan Books, 1981) p. 15.Google Scholar
  4. 18.
    Just in Time: Charles Batchelor, “You only make what you can sell”, Financial Times (14 November 1989).Google Scholar

Copyright information

© Keron Bhattacharya 1992

Authors and Affiliations

  • Keron Bhattacharya
    • 1
  1. 1.Seer GreenUK

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