Sales Cost of goods sold Accounts receivable 2021 $448,593 226,747 21,802 2020 299,062 151,281 2019 233642 119,871 17,495 15,958 Compute trend percentages for the above accounts, using 2017 as the base year. 2018 156,807 80,154 9,173 2017 119,700 59,850 8,176

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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.