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inventory valuation

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inventory valuation
The cost assigned to inventory for the purpose of establishing its current value. Inventory valuation is determined according to the basis by which a firm assumes inventory units are sold. If the first units acquired are assumed to be the first units sold (first-in, first-out), costs of the last units purchased are used for valuing inventory remaining in stock. Conversely, if the last units acquired are assumed to be the first units sold (last-in, first-out), the costs of the first units purchased are used for valuing the inventory remaining in stock.


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A major part of this simplification process involves the shift to a much simpler inventory valuation system.
This alternate method of inventory valuation is a win-win situation -- lenders are basing their loan policy on more objective criteria, and borrowers are provided with a strong incentive to improve control over, and management of, their inventory, which in turn will provide an ongoing evaluation and warning system of potential problems down the road.
The court accepted the taxpayer's inventory valuation based on catalogue list prices, less dealer discounts and selling expenses.
 
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