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  • Nur Adilah Nazifa Binti Abd Rahim

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    Adilah Nazifa
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    The document defines key inventory management terms: a bincard which records stock levels and movements; FIFO and LIFO inventory costing methods which assume the oldest or most recent units are sold first; par stock which assigns a very low per-share value; periodic order method which orders a standard quantity over a fixed period for consistent demand; and examples of perishable vs. non-perishable inventory items.

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    The document defines key inventory management terms: a bincard which records stock levels and movements; FIFO and LIFO inventory costing methods which assume the oldest or most recent units are sold first; par stock which assigns a very low per-share value; periodic order method which orders a standard quantity over a fixed period for consistent demand; and examples of perishable vs. non-perishable inventory items.

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    7 views2 pages

    Nur Adilah Nazifa Binti Abd Rahim

    Uploaded by

    Adilah Nazifa
    The document defines key inventory management terms: a bincard which records stock levels and movements; FIFO and LIFO inventory costing methods which assume the oldest or most recent units are sold first; par stock which assigns a very low per-share value; periodic order method which orders a standard quantity over a fixed period for consistent demand; and examples of perishable vs. non-perishable inventory items.

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    © All Rights Reserved
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    NUR ADILAH NAZIFA BINTI ABD RAHIM

    CB210376

    1.Bincard

    A document that records the status of goods held in stock of a store maintained by the storekeeper,
    showing the inflow and outflow movement of the stock

    2.FIFO 

    The First-In, First-Out (FIFO) method assumes that the oldest unit of inventory is the sold first.

    3.LIFO 

    The Last-In, First-Out (LIFO) method assumes that the last unit to arrive in inventory or more recent is
    sold first.

    4.Par Stock

    It’s per-share value assigned by the company that issues it and is often set at a very low amount such as
    one cent.

    5.Periodic Order Method

    The period order quantity is a standard number of units to be ordered over a fixed period of time. This
    approach is used when the amount of raw materials or supplies usage is consistent and predictable
    6. Perishable item and Non-perishable

    Perishable item  Non-perishable


    - Apple Ice cream vanilla
    -Chicken Pepper
    -Broccoli Wheat flour
    - Butter Apple jam
    - Pineapple Garlic

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