- is made up of goods that will be used in the production or finished products.

- Consists of materials entered into the production process but not yet completed.

- includes complete products waiting to be sold

— first goods purchase are the first to be used or sold.

— most recently purchased/acquired goods are the first to be used.

— this valuation method assumes that ending inventory consist of goods available for sales.

— assumes that the organization can track the actual cost of an item into, through, and out of the facility

— this method is a "beat guess" approach

— shows the financial position of a company on a specific date.

— assets that are in the form of cash or that are easily converted to cash within one year.

— use as investment and fixed assets

— ( patents, copy right, and goodwill )

— represent amount owed to creditors

— represents ownership or right to the assets

is a report that identifies a company's revenues (sales) expenses, and resulting profits

expressions of how many of one item is converted within another

are useful tools to explain trends and to summarize business results

assesses the organization's overall liquidity and indicates a company's ability to meet its short-tem obligations.

— prefers to liabilities that are due and payable within twelve months.

— most liquid current assets to its current liabilities.

— refers to how many times inventory is replace over a period of tim.

amount due from customer resulting from normal sales activities.

— represent the number of pennies per inventory dollar per year a company is spending to house its inventory

— describes as various approaches to disposing of dead stock.