CHAPTER ONE
INTRODUCTION
In an organization, it is very essential and need greater attention towards effort made to achieve and mandation an economic balance between the cost incurred and saved, by holding material in stock.
This process can be obtained by ensuring that the acquisition, storage, handling and usage of raw material are fully controlled at all times. This process is considered under the study of office inventory system which embraces, the total raw material to be used, work in progress and the stock counting of the finished goods.
Inventory then means the measured amount of goods, which varies in quantity overtime in response to “demand” process, which operates to diminish the stock and an “repleshement” process, which operates to increase it.
Due to fluctuating market prices of material in store, two system of valuation of issued of an inventory are adopted by most
Due to fluctuating market prices of material in store, two system of valuation of issued of an inventory are adopted by most organization periodic and office system, which was defined by new lexicon Webster dictionary as records maintained for a manufacturing business so that, they show a continuous inventory of such items as raw materials and goods in process.
For further implementation of this study, reference will be made to offices when the problems faced with inventory management is proposed to be narrowed down with the aid of computer to make work easier and to achieve accurate results, when updating files and also assessment of files.
