You Matter and Make a Difference (YMMD) is in the process of budgeting for the total number of units to produce in the coming period. Based on the sales budget, YMMD anticipate selling 3,800 units. Relevant inventory information is provided below:    o Beginning finished goods inventory 700 units o Desired ending finished goods inventory 15% of current market demand   What is YMMD’s budgeted number of units to produce for the upcoming period?   3,800 units 5,070 units 3,670 units  3,100 units

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.