The total expenditure of a sample of 119 customers of Shoprite and a sample of 137 customers of Accra Mall were analysed and the following grouped frequency distribution was obtained. Which shop has higher uncertain purchases by customers? Expenditure Range (GH¢' 000) O to 19 20 to 39 40 to 59 Frequency (Shoprite) Frequency (Accra Mall) 13 35 27 61 41 17 60 to 79 19 14 80 to 99 100 to 119 17 5

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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.