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Chapter
12
Inventory Management
Introduction
The term "Inventory" is originated from the French word "Inventaire" and
Components of Inventory
1. Raw Materials
2. Work in Process
3. Finished Products
1. Transaction Motive
2. Precautionary Motive
3. Speculative Motive
1. Ordering Costs
1. Price Decline
2. Product Deterioration
3. Product Obsolescence