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INVENTORY PLANNING AND CONTROL
The main goal of "inventory control" is to discover and maintain the optimum level of investment in all types of inventories, from raw materials and supplies to finished goods that helps to maximize long-run profits.
Two limits must be imposed in controlling inventory levels, because there are two danger points that management usually wants to ignore. Such problems are:(i) That inadequate inventories, disrupts production and may lose sales.(ii) That excessive inventories, introduces unnecessary carrying costs and obsolescence risks.
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Illustrate the concept of Cost The term cost indicates the amount of expenditure (actual or national) incurred on, or attributable to, a specified thing or thing or cost unit.
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This is a most familiar form of medium term financing in obtaining plant and vehicles, machinery etc. In hire purchase transactions, the purchaser of goods will obtain the possessi
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Salialailai Ltd manufactures water tanks for different sizes for use by industrial customers. The company uses a job costing system, in which manufacturing overhead is applied on t
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Explain the Features of budgetary control From the definition the following features of budgets control emerge: 1) Establishment of budgets: budgets are prepared for each
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