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10
40
I
40
02
Inventory Questionnaire (cont'd)
(c)
First in, first out (FIFO)
(d) Standard
7 .
What is the frequency of inventory cost changes? What is the frequency of inventory sales price
changes?
(a)
How often are price changes of finished goods made?
(b) Are they made by product line or by item?
8.
If partial shipments are made, what is the procedure for handling them?
9.
Is there a back-order problem? If so, how is it controlled?
(a) What percentage of orders have items back-ordered, substituted or canceled?
(b)
How much
$
volume do you lose?
10. How and when is a physical inventory taken? By whom?
11. What controls are set up and maintained on the inventory system?
12. What is the cost of inventory maintenance?
13. What are the present costs of keeping inventory records?
14. What are the types of inventory records and reports?
(a) Do they result in a stock status summary report?
(b)
How often are inventory reports prepared?
(c) Who receives them?
15. What is the origin and layout of source documents and what controls are used?
16. How often are inquiries made into inventory records? What are their nature? Who makes them?
17. How are present inventory recordkeeping functions correlated with purchasing, billing, sales,
manufacturing, etc.?
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