Profit or Wealth? by Ruth King

Author:Ruth King [Ruth King]
Language: eng
Format: epub
Publisher: Morgan James Publishing
Published: 2021-03-14T16:00:00+00:00

Figure 1

Profit Rule 9: Understand That Inventory Is a Bet

Inventory is a bet. Companies who have inventory bet their hard-earned dollars that when they purchase a part, equipment, or other materials, the company can sell what has been bought. Look in the company trucks and in the warehouse to see if good or bad bets were made.

First, the company has to track inventory. I’ve seen it where the same value is on the balance sheet until the count at the end of the year. This is not a good way to track inventory.

Here is Philip’s story:

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