Asked by ALANA MANNING on May 05, 2024
Verified
A subsidiary inventory ledger can be an aid in maintaining inventory levels at their proper levels.
Subsidiary Inventory Ledger
The subsidiary ledger containing individual accounts for items of inventory.
- Acquire knowledge about how inventory controls contribute to the process of accounting and financial reporting.
Verified Answer
LT
Lamar TravisMay 06, 2024
Final Answer :
True
Explanation :
A subsidiary inventory ledger is a tool used to track individual inventory items and their associated quantities. This information can help businesses identify which items are selling well and which items may be overstocked or understocked. By having accurate information about inventory levels, businesses can make informed decisions about when to reorder items and how much inventory to maintain at any given time. This can ultimately lead to more efficient inventory management and cost savings.
Learning Objectives
- Acquire knowledge about how inventory controls contribute to the process of accounting and financial reporting.
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