Inventory Unit.docx

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Department
Hospitality and Tourism Management
Course
HTM 2030
Professor
Connie Zavitz
Semester
Fall

Description
Inventory UnitPhysical Inventoryactual number of units on handrecord the numberdetermine the valueextend and record the valueValuing Physical Inventory actual purchase pricefirst in first out latest pricesweighted average purchase pricelatest purchase pricelast in first out earliest prices which is most recent priceMonthly Food cost determinationOpening inventory Purchase Total available Closing inventory Cost of food issuedWhen inventory is moved to a different area and not recorded its understated and income is overstatedBooking Inventory vs
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