Discuss in detail the following;
a. Cycle counting and Importance of implementing cycle counts?
b. Inventory Valuation...
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General Management
Discuss in detail the following; a. Cycle counting and Importance of implementing cycle counts?
b. Inventory Valuation Process and methods ofinventory valuation adapted by the firms?
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Cycle Counting Cycle counting is defined as an inventory auditing procedure where the company counts a part of inventory every day The scheduled is developed for counting and a specific part of inventory is counting according to the schedule laid down by the company Importance of implementing cycle counts Accurate Inventory Management Year Round Instead of waiting till the end of the financial period and submitting details for financial reports cash flow and taxes a precise count and valuation can be maintained
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