A COMPARATIVE ANALYSIS OF THE IMPACT OF INVENTORY VALUATION METHODS ON FINANCIAL REPORT STATEMENT IN SOME MANUFACTURING COMPANIES IN AKWA IBOM STATE
Abstract
ABSTRACT
This research work was conducted on with special reference to the impact
inventory valuation methods has on financial report statements of
manufacturing companies. For a longtime now the accounting profession
has not been able to come up with any particular technique or method to
be used uniformly in valuing inventory. This research work examined if the
method used was as a result of the prevailing economic circumstances. A
survey research design was adopted for the study; data collected were
gotten from both the primary and secondary sources. An infinite population
of over 3000 was used and a finite population of 220. Three hypotheses
were tested at 5 percent level of significance. Tables and percentages were
employed to answer the questionnaires while the statistical regression
coefficient analysis and Z- test were used to test the hypotheses. It was
found amongst others that the prevailing economic parameter influences
the decision of choice of inventory valuation method used. The Accounting
professional bodies should try as much as possible to adopt a particular
method of inventory valuation and the weighted average method was
recommended as a method that can withstand any economic challenges
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