Production and Inventory Management

The basis of any commercial enterprise is the purchase and sale of goods or services; hence the importance of inventory management. This accounting management will allow the company to maintain control in a timely manner as well as to know at the end of the accounting period a reliable statement of the economic situation of the company. Inventory constitutes the current asset items that are ready for sale i.e. all the merchandise that a company has in its warehouse valued at acquisition cost for sale or productive activities. By means of the following research work some basic concepts of everything related to inventories in a company methods system and control will be presented.