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Microcap & Penny Stocks : Microphonics Inc. (mrps) -- Ignore unavailable to you. Want to Upgrade?

To: Bill on the Hill who wrote (3612)	3/12/1999 1:42:00 PM
From: Sprintcar	Respond to of 8189

Inventories are a source of some of the most difficult accounting problems. The general rule is that the inventory should include all goods. Complexities occur when goods sold under contract or ordered by customers for future delivery are being held in stock it is important to determine whether title has passed. The mere fact that the goods have been segregated from other merchandise may or may not mean that title has passed on to the vendee. If title has passed, the goods should be excluded from the inventory, if title has not passed they should be included. Another problem, goods which have been ordered but not received at the balance sheet date may properly belong in inventory. If goods are in transit the general rule for passing title is if they were shipped fob shipping point they belong to the purchaser, shipped fob destination and have not arrived they belong to seller. So what you see from above are your typical accountants problems, and the issue of the inventory for MRPS is believe me no biggie. It's just a matter of dotting the i's and crossing the t's. This is good because it shows there are lots of orders considering the 500k mentioned and it's just a matter of determining whose inventory they are at balance sheet time. Sprintcar PS whether there inventory or sales their still there..