Inventories and Cost of Sales Section


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.


Purchase Price Construction Company Disclosure Requirement Inventory Item Inventory Valuation 


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

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