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Chapter 15. Keeping Track of Your Invent... > QuickBooks Provides a Mixed Blessing...

QuickBooks Provides a Mixed Blessing for Businesses with an Inventory

QuickBooks provides a full, interactive inventory feature that constantly tracks and updates your company’s inventory totals. Each time you receive new items in stock, your inventory quantity increases; each time you sell an item, your inventory quantity decreases. A reorder feature reminds you when supplies are getting low, and tells you that you need to order more.

QuickBooks also has a serious shortcoming in the area of valuing inventory: The only way that QuickBooks provides to value inventory is the weighted average method. Many companies need to use other methods to value their inventory items. The weighted average method of valuation is described in this chapter, as are other common methods. This chapter also discusses alternatives to using QuickBooks to account for the value of your inventory.


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