Title: (Optional) Inventory products.
Course: Agricultural Education - Development (18003-I) > Section: Investigating Business Operations

Inventory should include

- product names, prices, and quantities on hand
- quantities produced or received in a given period
- quantities removed or sold in a given period
- following the principle of first in, first out (FIFO) vs. last in, first out (LIFO).

Process/Skill Questions:

- How can correct inventories affect bottom-line profit margins?
- How can inventory records help managers capitalize on sales trends?
- How can sales systems and databases influence the accuracy of inventory records?
- How can inventory records be a deterrent against employee theft?
- What information should be included when doing inventory?
- How often should inventory be done?
- Why would a company use LIFO instead of FIFO?