6) ABC makes & sells doors & windows. Prepare a sales & production budget.   Estimates:                                                             Doors             Windows March 1 Inventory (Units)              680                   550 March 30 Inventory                          400                   300   Expected Sales:   North (Units)                                    1400                1100 South                                                1800                 1600   Unit selling prices:                        $180                  $130

Q: #1

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A:

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Q: a10

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.