Chapter 6, Problem 6BTN

To determine

Introduction: Each company is required to adopt a method for valuing its inventory. There are several methods available for valuation of its inventory by a business. Some of them are FIFO, LIFO, Weighted Average and Specific Identification method. Each of these methods has its own pros and cons which are required to be considered while deciding the method to be adopted.

To state: Which stores use bar coding system and how they manage their inventories in case they do not use the bar coding system.