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What risks are there for me to carry inventory

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Question - What risks are there for me to carry inventory? Could these cause problems for my business? If so, what types of problems?

-Would I account for the HeathKit items as inventory or equipment? What is the difference between the two? What needs to be included in the cost I record? How do I deal with returns if there is a problem?

-I know that perpetual and periodic refers to how I would account for inventory. What is the difference between them? Which would you recommend for me at this point?

-I think that the prices are likely to go up over time. How would that affect my decision on which costing method (LIFO, FIFO, average cost, specific identification) to choose? What method would you recommend for me?

Reference no: EM132966767

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