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Inventories and Cost of Sales Section

Abstract

Manufacturers, retailers, wholesalers and service-based companies often maintain large amounts of inventory, which represents a significant balance sheet caption. Existence, ownership, pricing and valuation are the main objectives during an audit. The term ‘Inventory’ refers to items held for sale, in process of production, or to be converted or consumed in the production of goods or services.

Keywords

Purchase Price Construction Company Disclosure Requirement Inventory Item Inventory Valuation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Betriebswirtschaftlicher Verlag Dr.Th. Gabler | GWV Fachverlage GmbH, Wiesbaden 2008

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