Discuss the merits of proper stock accounting system.

Question

15 Apr 2024

Answer :

Word Count : 276

A proper stock accounting system is crucial for effective inventory planning and management within any business. It offers a plethora of merits that contribute to the smooth functioning and profitability of an organization.

Firstly, a robust stock accounting system provides accurate visibility into the inventory levels of a business. This visibility helps in preventing stockouts, which can lead to lost sales opportunities and dissatisfied customers. By knowing exactly what _______ _________ __________ ____ ________.
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Item No.	Annual Demand (Rs.)	No. of orders per year	Order Size (Rs.)
1	10,00,000	4	2,50,000
2	6,40,000	4	1,60,000
3	9,00,000	4	22,500
4	2,500	4	625
5	1,600	4	400

Table 2
Month	Month Demand (no. of units)
January	70
February	75
March	72
April	80
May	85
May	90