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Inventory Accounting: A Comprehensive Guide is a practical resource for accounting professionals seeking to establish and maintain efficient inventory accounting systems. Authored by Steven M. Bragg, the book provides step-by-step guidance on setting up an accounting system that accurately handles accumulating inventory costs, summarizing accounts, and recording transactions. It covers best practices to enhance the efficiency of inventory-tracking and costing functions, including the use of coding, wireless data transmission, radio frequency identification, document imaging, and electronic data interchange. The guide also addresses unique controls to combat inventory fraud, offers a checklist for inventory counting procedures, and discusses various inventory cost layering systems such as FIFO, LIFO, dollar value LIFO, link-chain, and weighted average methods. Additionally, it provides insights into budgeting processes for raw materials, work-in-process, and finished goods inventories, as well as strategies for locating, disposing of, and accounting for obsolete inventory.

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245: $a: Inventory Accounting
245: $b:
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100: $a: Steven M. Bragg
650: $a: Financial Management
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250: $b: Wiley (John Wiley & Sons Inc)
250: $c: 2005
020: $a: 978-0471718727
300: $a: 256