Accounting

6 Most Used Techniques of Inventory Control in Cost Accounting

An efficient system of inventory control involves a number of steps. They are as follows:

(1) Deciding the maximum-minimum Limits of Inventory.

(2) determination of Re-order Point (REP)

(3) Determination of Re-order Quantity or Economic Order Quantity (EOQ).

(4) Perpetual Inventory Control.

(5) ABC Analysis.

(6) Method of Control through Turnover.

These all techniques have been explained in detail in the Related posts.

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