Healthcare: Two common inventory methods, choose the best
Not what you're looking for?
Healthcare organizations have many reasons to effectively manage their inventory, including implantable device tracking, investment protection and contract compliance. An effective inventory control system must in place in order to meet clinical and financial requirements. Describe the two most commonly used inventory valuation methods. Explain how each method effects the financial statement of the organization. If you were the CFO of an organization, which method would you prefer and why?
Purchase this Solution
Solution Summary
The discussion is 188 words and explains LIFO vs FIFO. The impact on the financial statements are discussed and a method is chosen with two reasons to support it.
Solution Preview
Describe the two most commonly used inventory valuation methods. Explain how each method effects the financial statement of the organization.
The two most common are LIFO and FIFO. LIFO is last in first out and it expenses the current prices in computing profit. FIFO ...
Education
- BSc, University of Virginia
- MSc, University of Virginia
- PhD, Georgia State University
Recent Feedback
- "hey just wanted to know if you used 0% for the risk free rate and if you didn't if you could adjust it please and thank you "
- "Thank, this is more clear to me now."
- "Awesome job! "
- "ty"
- "Great Analysis, thank you so much"
Purchase this Solution
Free BrainMass Quizzes
Lean your Process
This quiz will help you understand the basic concepts of Lean.
IPOs
This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.
Basics of corporate finance
These questions will test you on your knowledge of finance.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.