Daily Question

1."The key to successful business operations is effective inventory management."  Do you agree?  Explain. (75-100 words)

2, Under what circumstances might the inventory turn-over ratio be too high--that is, what possible negative consequences might occur? (75-100 words)

3.What is the primary basis of accounting for inventories?  What is the major objective in accounting for inventories? (75-100 words)