Types of Inventory / Stock

5 Basic types of inventories are raw materials, work-in-progress, finished goods, packing material, and MRO supplies. Inventories are also classified as merchandise and manufacturing inventory. Other such classifications on …

Cost of Trade Credit

Does Trade Credit also Costs? The statement “trade credit has no explicit cost” is a misleading statement. It is only partially correct. The trade credit is free only till …

Relevant Costs

Relevant costs are defined as the costs that arise in future and are different for different alternatives. The concept of relevant costs are used by management for making various …