Why is it important for a company to set up inventory groups? You are able to reconcile
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Question:
Why is it important for a company to set up inventory groups?
You are able to reconcile stock on hand with theoretical inventory values on the balance sheet
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It makes it easier to track what stock has been sold or purchased
They control the integration of inventory items into the general ledger
Inventory groups classify inventory items which makes it easier for the accountant to analyse inventory items
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