04 January 2013
Dear sir , The difference between crtitical and non critical inventory is that ---- CRITICAL INVENTORY IS THE INVENTORY WHICH IS REQUIRED FOR THE SURVIVAL OF THE COMPANY .... NON CRITICAL INVENTORY IS THE ADDITIONAL INVENTORY .... WHICH ARE BASICALLY ACCESORRIES OR ANCILLIARIES ...
in costing we have ABC ANALYSIS ---- A CATOGORY STOCK IS CRITICAL INVENTORY ..... C CATEGORY IS NON CRITICAL INVENTORY ....
18 January 2013
I agree with the expert. In addition to this Critical inventories are very costly and requires time to time physical verification. These type of inventories required to be stored under the supervision of responsible officers.
CAclubindia
