Inventories
Why is Inventory Control
Important?
Inventory is a significant asset and for many
companies the largest asset.
Inventory...
Receiving
report
Purchase
order
Invoice
AGREE
JOURNAL
Description
Nov. 9
Post.
Ref.
Date
Inventory 1 222 00
Accounts Payab...
LIABILITIES
OWNER’S
EQUITY
REVENUES
ASSETS
COSTS &
EXPENSES
Effect of Inventory Errors on
Financial Statements
Merchandise...
If merchandise inventory is . . . . . . .
Cost of merchandise sold is . . . . . .
Gross profit and net income are . . .
En...
Purchased
goods
Sold
goods
Inventory Cost Flow
Assumptions
Purchased
goods
Sold
goods
Inventory Cost Flow
Assumptions
Purchased
goods
Sold
goods
Inventory Cost Flow
Assumptions
Inventory Costing Methods
40%
30%
20%
10%
0%
43%
34%
19%
4%
Fifo Lifo Average Other
Perpetual Inventory Costs
Inventory cost data to demonstrate
FIFO and LIFO Perpetual Systems
Cost of
Mdse. Sold
Item 127B ...
FIFO ( Cost Accounting)
• FIFO is most useable technique of valuation
of material issue in manufacturing and
trading indus...
• Closing stock's value in store will be the
purchase value of material which we
purchased at the end.
• This system of va...
Merits of FIFO Method
• This method is very logical because material
should be issued first which we bought first.
• Becau...
Demerits of FIFO Method
• In case, there is fluctuation in prices, we can
not calculate correct cost of material issued.
•...
Item 127B
FIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Inventory cost data to demonstrate
FIFO and LIFO Perpetual Systems
Cost of
Mdse. Sold
Item 127B Units Cost Price
Jan. 1 In...
Item 127B
FIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Inventory cost data to demonstrate
FIFO and LIFO Perpetual Systems
Cost of
Mdse. Sold
Item 127B Units Cost Price
Jan. 1 In...
Item 127B
FIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Inventory cost data to demonstrate
FIFO and LIFO Perpetual Systems
Cost of
Mdse. Sold
Item 127B Units Cost Price
Jan. 1 In...
Item 127B
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total
Date Qty. Cost Cost Qty. Cost Co...
FIFO Perpetual Inventory Account
On January 28, the firm
sold two units at $32.
Inventory cost data to demonstrate
FIFO an...
Item 127B
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total
Date Qty. Cost Cost Qty. Cost Co...
FIFO Perpetual Inventory Account
On January 30, purchased ten additional
units of Item 127B at $22 each.
Inventory cost da...
Item 127B
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total
Date Qty. Cost Cost Qty. Cost Co...
What is LIFO
• In this method of valuation of inventory, we
calculate the inventory issue cost by reverse
order.
• It mean...
• In other words, LIFO is last-in, first-out,
meaning that the most recently purchased
items are recorded as issued for pr...
Item 127B
LIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Item 127B
LIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Item 127B
LIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Item 127B
LIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Item 127B
LIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Item 127B
LIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Item 127B
LIFO Perpetual Inventory Account
Purchases Cost of Mdse. Sold Inventory Balance
Unit Total Unit Total Unit Total...
Fifo
Periodic
Jan. 1 Beginning
Inventory
200 units @ $9
Mar. 10 Purchase300 units @ $10
400 units @ $11 Sept. 21 Purchase
100 units @ $1...
Fifo Periodic
200 units @ $9
300 units @ $10
400 units @ $11
100 units @ $12
1,000 units available
for sale during
year
$1...
Fifo Periodic
A physical count on
December 31 reveals that
700 of the 1,000 units
have been sold.
Using fifo, the first un...
Fifo Periodic
200 units @ $9
300 units @ $10
400 units @ $11
100 units @ $12
1,000 units available
for sale during
year
$1...
Cost of merchandise available for
sale $10,400
Less ending inventory 3,400
Cost of merchandise sold $ 7,000
Fifo Periodic
Jan. 1
200 units at $9
Summary of Fifo Periodic
Mar. 10
300 units at $10
Sep. 21
400 units at $11
Nov. 18
100 units at $12...
Lifo
Periodic
Jan. 1 Beginning
Inventory
200 units @ $9
Mar. 10 Purchase300 units @ $10
400 units @ $11 Sept. 21 Purchase
100 units @ $1...
Jan. 1 Beginning
Inventory
200 units @ $9
Mar. 10 Purchase300 units @ $10
400 units @ $11 Sept. 21 Purchase
100 units @ $1...
200 units @ $9
300 units @ $10
400 units @ $11
100 units @ $12
1,000 units available
for sale during
year
Lifo Periodic
So...
Cost of merchandise available for
sale $10,400
Less ending inventory 2,800
Cost of merchandise sold $ 7,600
Lifo Periodic
Jan. 1
200 units at $9
Summary of Lifo Periodic
Mar. 10
300 units at $10
Sep. 21
400 units at $11
Nov. 18
100 units at $12...
Jan. 1 Beginning
Inventory
200 units @ $9
Mar. 10 Purchase300 units @ $10
400 units @ $11 Sept. 21 Purchase
100 units @ $1...
Average Cost Periodic
200 units @ $9 = $ 1,800
1,000 units available
for sale during
year
300 units @ $10 = $ 3,000
400 un...
Cost of Merchandise
Available for Sale
Units Available for Sale
During Year
= Average Unit Cost
$10,400
1,000 Units
= $10....
Cost of merchandise available for sale $10,400
Less ending inventory ($10.40 x 300) 3,120
Cost of merchandise sold $ 7,280...
$ 3,800
2,700
4,650
3,920
Total $15,520 $15,472 $15,070
Valuation of Inventory at
Lower-of-Cost-or-Market
A 400 $10.25 $ 9...
Assets
Current assets:
Cash $ 19 400 00
Accounts receivable $80 000 00
Less allowance for
doubtful accounts 3 000 00 77 00...
The End
ITFT - COST ACCOUNTING
ITFT - COST ACCOUNTING
Upcoming SlideShare
Loading in …5
×

ITFT - COST ACCOUNTING

380 views

Published on

Inventory control

Published in: Education, Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
380
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
11
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

ITFT - COST ACCOUNTING

  1. 1. Inventories
  2. 2. Why is Inventory Control Important? Inventory is a significant asset and for many companies the largest asset. Inventory is central to the main activity of merchandising and manufacturing companies. Mistakes in determining inventory cost can cause critical errors in financial statements. Inventory must be protected from external risks ( such as fire and theft) and internal fraud by employees.
  3. 3. Receiving report Purchase order Invoice AGREE JOURNAL Description Nov. 9 Post. Ref. Date Inventory 1 222 00 Accounts Payable--XYZ Co. 1 222 00 Purchased merchandise on account.
  4. 4. LIABILITIES OWNER’S EQUITY REVENUES ASSETS COSTS & EXPENSES Effect of Inventory Errors on Financial Statements Merchandise Inventory Cost of Merchandise Sold If merchandise inventory is . . . . . . . Cost of merchandise sold is . . . . . . Gross profit and net income are . . . Ending owner’s equity is . . . . . . . . . overstated understated overstated overstated Net Income
  5. 5. If merchandise inventory is . . . . . . . Cost of merchandise sold is . . . . . . Gross profit and net income are . . . Ending owner’s equity is . . . . . . . . . understated overstated understated understated Effect of Inventory Errors on Financial Statements
  6. 6. Purchased goods Sold goods Inventory Cost Flow Assumptions
  7. 7. Purchased goods Sold goods Inventory Cost Flow Assumptions
  8. 8. Purchased goods Sold goods Inventory Cost Flow Assumptions
  9. 9. Inventory Costing Methods 40% 30% 20% 10% 0% 43% 34% 19% 4% Fifo Lifo Average Other
  10. 10. Perpetual Inventory Costs Inventory cost data to demonstrate FIFO and LIFO Perpetual Systems Cost of Mdse. Sold Item 127B Units Cost Price Jan. 1 Inventory 10 $20 4 Sale 7 $30 10 Purchase 8 21 22 Sale 4 31 28 Sale 2 32 30 Purchase 10 22
  11. 11. FIFO ( Cost Accounting) • FIFO is most useable technique of valuation of material issue in manufacturing and trading industries. • It means First in, First Out. • We will send that material for production first which we bought first. • We also record the cost of issue on this basis.
  12. 12. • Closing stock's value in store will be the purchase value of material which we purchased at the end. • This system of valuation of cost is very useful where there is the trend of decreasing prices, because we will charge high cost to the units which we bought earlier to new. • But this method is not useful in the trend of increasing prices.
  13. 13. Merits of FIFO Method • This method is very logical because material should be issued first which we bought first. • Because we issue the material at its purchase price, so closing stock can be calculated correctly. • Closing stock's cost automatically shows the market price.
  14. 14. Demerits of FIFO Method • In case, there is fluctuation in prices, we can not calculate correct cost of material issued. • We also can not compare on job's cost with other job's cost in case prices are fluctuating. • This is not good method in inflation.
  15. 15. Item 127B FIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 The firm begins the year with 10 units of Item 127B on hand at a total cost of $200.
  16. 16. Inventory cost data to demonstrate FIFO and LIFO Perpetual Systems Cost of Mdse. Sold Item 127B Units Cost Price Jan. 1 Inventory 10 $20 4 Sale 7 $30 10 Purchase 8 21 22 Sale 4 31 28 Sale 2 32 30 Purchase 10 22 FIFO Perpetual Inventory Account On January 4, 7 units of Item 127B are sold at $30 each.
  17. 17. Item 127B FIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost The sale of 7 units leaves a balance of 3 units. Jan. 1 10 20 200 4 7 20 140 3 20 60 Jan. 1 10 20 200 On January 4, 7 units of Item 127B are sold at $30 each.
  18. 18. Inventory cost data to demonstrate FIFO and LIFO Perpetual Systems Cost of Mdse. Sold Item 127B Units Cost Price Jan. 1 Inventory 10 $20 4 Sale 7 $30 10 Purchase 8 21 22 Sale 4 31 28 Sale 2 32 30 Purchase 10 22 FIFO Perpetual Inventory Account On January 10, the firm purchased eight units at $21 each.
  19. 19. Item 127B FIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 10 8 21 168 3 20 60 8 21 168 On January 10, the firm purchased eight units at $21 each. Because the purchase price of $21 is different than the cost of the previous 3 units on hand, the inventory balance of 11 units is accounted for separately.
  20. 20. Inventory cost data to demonstrate FIFO and LIFO Perpetual Systems Cost of Mdse. Sold Item 127B Units Cost Price Jan. 1 Inventory 10 $20 4 Sale 7 $30 10 Purchase 8 21 22 Sale 4 31 28 Sale 2 32 30 Purchase 10 22 FIFO Perpetual Inventory Account On January 22, the firm sold four units for $31 each.
  21. 21. Item 127B Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 10 8 21 168 3 20 60 8 21 168 FIFO Perpetual Inventory Account 22 3 20 60 1 21 21 7 21 147 Of the four units sold, three are from the first units in (fifo) at a cost of $20. On January 22, the firm sold four units for $31 each.
  22. 22. FIFO Perpetual Inventory Account On January 28, the firm sold two units at $32. Inventory cost data to demonstrate FIFO and LIFO Perpetual Systems Cost of Mdse. Sold Item 127B Units Cost Price Jan. 1 Inventory 10 $20 4 Sale 7 $30 10 Purchase 8 21 22 Sale 4 31 28 Sale 2 32 30 Purchase 10 22
  23. 23. Item 127B Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 10 8 21 168 3 20 60 8 21 168 FIFO Perpetual Inventory Account 22 3 20 60 1 21 21 7 21 147 28 2 21 42 5 21 105 On January 28, the firm sold two units at $32.
  24. 24. FIFO Perpetual Inventory Account On January 30, purchased ten additional units of Item 127B at $22 each. Inventory cost data to demonstrate FIFO and LIFO Perpetual Systems Cost of Mdse. Sold Item 127B Units Cost Price Jan. 1 Inventory 10 $20 4 Sale 7 $30 10 Purchase 8 21 22 Sale 4 31 28 Sale 2 32 30 Purchase 10 22
  25. 25. Item 127B Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 10 8 21 168 3 20 60 8 21 168 FIFO Perpetual Inventory Account 22 3 20 60 1 21 21 7 21 147 28 2 21 42 5 21 105 30 10 22 220 5 21 105 10 22 220 Totals 18 $388 13 $263 15 $325 On January 30, purchased ten additional units of Item 127B at $22 each.
  26. 26. What is LIFO • In this method of valuation of inventory, we calculate the inventory issue cost by reverse order. • It means that we charge old quantities price first for issue of material and then new prices will be charged. • It is just opposite of FIFO. It is most suitable in inflation of prices.
  27. 27. • In other words, LIFO is last-in, first-out, meaning that the most recently purchased items are recorded as issued for production first from store. • If LIFO is used for calculating the cost of goods sold and closing stock, then it will calculated for calculating correct gross and net profit. • At that time, we take last (latest) purchase price for sold material first time.
  28. 28. Item 127B LIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 The firm begins the year with 10 units of Item 127B on hand at a total cost of $200.
  29. 29. Item 127B LIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 On January 4, the firm sold 7 units at $30 each.
  30. 30. Item 127B LIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 10 8 21 168 3 20 60 8 21 168 On January 10, the firm purchased eight units at $21 each. Note that a new layer is formed.
  31. 31. Item 127B LIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 10 8 21 168 3 20 60 8 21 168 On January 22, the firm sells four units at $31 each. 22 4 21 84 3 20 60 4 21 84 Of the 4 units sold, all come from the most recent purchase at a cost of $21 each.
  32. 32. Item 127B LIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 10 8 21 168 3 20 60 8 21 168 On January 28, sold two units at $32 each. 22 4 21 84 3 20 60 4 21 84 28 2 21 42 3 20 60 2 21 42
  33. 33. Item 127B LIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 10 8 21 168 3 20 60 8 21 168 On January 30, purchase 10 units at $22 each. 22 4 21 84 3 20 60 4 21 84 28 2 21 42 3 20 60 2 21 42 30 10 22 220 3 20 60 2 21 42 10 22 220
  34. 34. Item 127B LIFO Perpetual Inventory Account Purchases Cost of Mdse. Sold Inventory Balance Unit Total Unit Total Unit Total Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Cost Jan. 1 10 20 200 4 7 20 140 3 20 60 10 8 21 168 3 20 60 8 21 168 22 4 21 84 3 20 60 4 21 84 28 2 21 42 3 20 60 2 21 42 30 10 22 220 3 20 60 2 21 42 10 22 220 Totals 18 $388 13 $266 15 $322
  35. 35. Fifo Periodic
  36. 36. Jan. 1 Beginning Inventory 200 units @ $9 Mar. 10 Purchase300 units @ $10 400 units @ $11 Sept. 21 Purchase 100 units @ $12 Nov. 18 Purchase 1,000 units available for sale during year Fifo Periodic
  37. 37. Fifo Periodic 200 units @ $9 300 units @ $10 400 units @ $11 100 units @ $12 1,000 units available for sale during year $10,400 = $1,800 Jan. 1 = 3,000 Mar. 10 = 4,400 Sept. 21 = 1,200 Nov. 18 Cost of merchandise available for sale
  38. 38. Fifo Periodic A physical count on December 31 reveals that 700 of the 1,000 units have been sold. Using fifo, the first units purchased are theoretically the first units sold. We begin the count with January 1.
  39. 39. Fifo Periodic 200 units @ $9 300 units @ $10 400 units @ $11 100 units @ $12 1,000 units available for sale during year $10,400 = $1,800 Jan. 1 = 3,000 Mar. 10 = 4,400 Sept. 21 = 1,200 Nov. 18 Sold these 200 Sold these 300 Sold 200 of these200 units @ $11 = $ 0 Jan. 1 = 0 Mar. 10 = 2,200 Sept. 21 $ 3,400 Ending inventory
  40. 40. Cost of merchandise available for sale $10,400 Less ending inventory 3,400 Cost of merchandise sold $ 7,000 Fifo Periodic
  41. 41. Jan. 1 200 units at $9 Summary of Fifo Periodic Mar. 10 300 units at $10 Sep. 21 400 units at $11 Nov. 18 100 units at $12 $1,800 $3,000 $4,400 $1,200 Purchases Merchandise Available for Sale $1,800 $3,000 $2,200 Cost of Merchandise Sold 200 units at $9 $10,400 $2,200 $1,200 $7,000 Merchandise Inventory $3,400 300 units at $10 200 units at $11 200 units at $11 100 units at $12 1,000 units 700 units 300 units
  42. 42. Lifo Periodic
  43. 43. Jan. 1 Beginning Inventory 200 units @ $9 Mar. 10 Purchase300 units @ $10 400 units @ $11 Sept. 21 Purchase 100 units @ $12 Nov. 18 Purchase 1,000 units available for sale during year Lifo Periodic Using lifo, the most recent batch purchased is considered the first batch of merchandise sold.
  44. 44. Jan. 1 Beginning Inventory 200 units @ $9 Mar. 10 Purchase300 units @ $10 400 units @ $11 Sept. 21 Purchase 100 units @ $12 Nov. 18 Purchase 1,000 units available for sale during year Lifo Periodic Assume again that 700 units were sold during the year.
  45. 45. 200 units @ $9 300 units @ $10 400 units @ $11 100 units @ $12 1,000 units available for sale during year Lifo Periodic Sold these 100 Sold these 400 Sold 200 of these100 units @ $10 = $1,800 Jan. 1 = 3,000 Mar. 10 = 4,400 Sept. 21 = 1,200 Nov. 18 $10,400 0 0 1,000 Ending Inventory $2,800
  46. 46. Cost of merchandise available for sale $10,400 Less ending inventory 2,800 Cost of merchandise sold $ 7,600 Lifo Periodic
  47. 47. Jan. 1 200 units at $9 Summary of Lifo Periodic Mar. 10 300 units at $10 Sep. 21 400 units at $11 Nov. 18 100 units at $12 $1,800 $3,000 $4,400 $1,200 $1,800 $1,000 Cost of Merchandise Sold 200 units at $9 $10,400 $4,400 $1,200 $2,800 $7,600 100 units at $10 200 units at $10 400 units at $11 100 units at $12 $2,000 700 units 1,000 units 300 units Purchases Merchandise Available for Sale $1,800 Cost of Merchandise Sold
  48. 48. Jan. 1 Beginning Inventory 200 units @ $9 Mar. 10 Purchase300 units @ $10 400 units @ $11 Sept. 21 Purchase 100 units @ $12 Nov. 18 Purchase 1,000 units available for sale during year The average cost periodic method is based on the average cost of identical units. Average Cost Periodic
  49. 49. Average Cost Periodic 200 units @ $9 = $ 1,800 1,000 units available for sale during year 300 units @ $10 = $ 3,000 400 units @ $11 = $ 4,400 100 units @ $11 = $ 1,200 $10,400 Cost of merchandise available for sale
  50. 50. Cost of Merchandise Available for Sale Units Available for Sale During Year = Average Unit Cost $10,400 1,000 Units = $10.40 per Unit Average Cost Periodic
  51. 51. Cost of merchandise available for sale $10,400 Less ending inventory ($10.40 x 300) 3,120 Cost of merchandise sold $ 7,280 To verify this amount, multiply 700 units sold times $10.40 to get the same $7,280. Average Cost Periodic
  52. 52. $ 3,800 2,700 4,650 3,920 Total $15,520 $15,472 $15,070 Valuation of Inventory at Lower-of-Cost-or-Market A 400 $10.25 $ 9.50 $ 4,100 $ 3,800 B 120 22.50 24.10 2,700 2,892 C 600 8.00 7.75 4,800 4,650 D 280 14.00 14.75 3,920 4,130 Unit Unit Inventory Cost Market Total Total Lower Item Quantity Price Price Cost Market C or M The market decline based on individual items ($15,520 – $15,070) = $450
  53. 53. Assets Current assets: Cash $ 19 400 00 Accounts receivable $80 000 00 Less allowance for doubtful accounts 3 000 00 77 000 00 Merchandise inventory at lower of cost (first-in, first-out method) or market 216 300 00 Metro-Arts Balance Sheet December 31, 2007 Presentation of Merchandise Inventory on the Balance Sheet
  54. 54. The End

×