Describe the difference in inventories between a firm that is a retail company and a firm that is a manufacturing concern.
Inventories refer to the stock which is employed in the business for earning profit. The inventories for any business may be finished goods or the raw material required for the finished goods. This varies upon the nature of the business.
Answer and Explanation: 1
Retail Company: This is the type of company that is prominently in buying and selling the goods, and with the help of trading activity, Retail Company...
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fromChapter 13 / Lesson 7
Learn what inventory in business is. Find out three types of inventory management systems and the benefits of each. Understand inventory management through examples.