Thermal Control Technologies Corp TCT (was Redux Energy) Message Board

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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)

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To: John Gorham who wrote (939)	9/4/1999 9:44:00 AM
From: John Gorham	Read Replies (1) of 1208

The prime purpose of taking inventory is normally to verify that the accounting books do agree with the actual state of the inventory. Another purpose is to determine what adjustments need to be made to the books for the valuation of the inventory. Some stock may be obsolescent or damaged or otherwise require revaluation. These objectives can be accomplished at any time--one does not have to wait until complete financial statements are prepared. Inventory taking is made difficult by the fact that in most businesses there is a continual flow into the company of supplies and out in the way of sales. Some companies do choose to close their premises for this reason. Also it is sometimes best to value inventory at a time when business is slack or when it is otherwise convenient to do so. The end of the financial year is hardly likely to be the most convenient, but I suppose this varies with company. I realize that it is also possible that there are other possibilities. A few words of explanation from the company would help. Hello Cameron? . . . Cameron! . . . CAMERON! . . . Don't leave this all to me! John

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