Ali is planning to implement an inventory control system where the store's ledger should show the latest update of the quantity of material available in the store immediately after each transaction of receipts and issue of materials. Which method would ideally suit his requirements? a. FIFO method of issue b. Annual Stocktaking system O c. Perpetual inventory system O d. Periodic Inventory system

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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.