A Guide to Understanding the Inventory Appraisal Process
 

Written by:                                           Scott M. Creel, ASA
                                                            Jackie L. Montalvo, ASA

Contributing Writer:
                             Rick L. Garren

Production:
                                          Lynn Phillips Goodwin

Editor:
                                                  Brenda Wagner

Editorial Assistants:                              Wanda Kinney-Canary, ASA
                                                            Jilleen S. Woelfel
                                                            Carolyn Gallegos

Published by:
                                       Value Resource Group, Inc.
                                                            109 Shepherds Glen Road
                                                            Heath, TX 75032

E-mail Us at:                                        vrg@vrgappraisal.com

© 
Copyright 2001-2008 by:                    Scott M. Creel, ASA
                                                            Jackie L. Montalvo, ASA
                                               
All Rights Reserved.  The information contained in this book, A Guide to Understanding the Inventory Appraisal Process, is protected by copyright.  Except as specifically permitted, no portion of this book may be distributed or reproduced by any means, or in any form, or by any electronic or mechanical means, including information storage and retrieval systems, without prior written consent from the copyright owners.

Printed in the United States of America

Revised:
           February 6, 2008


 
Preface
 

Every item of tangible personal property is, was, or will be considered inventory at some time and, being that inventory can include just about anything, how it is valued depends on many factors that the appraiser must evaluate.  While the personal property appraiser establishes what the item is first, the inventory appraiser’s initial investigation is to determine the level of trade, which conceptually is the fundamental cornerstone in the valuation of inventory.  Throughout this guide, there will be an in-depth discussion on inventory applications and distinctions from an inventory appraiser’s perspective.

 

To view each chapter in VRG's book, "A Guide to Understanding the Inventory Appraisal Process", go to the chapter headings listed below.


 

·        Implications of the Level of Trade Concept for Inventory

·        Cost Reporting for Inventory

·        Cost Method for Inventory

·      Cost Structure and Adjustments to Cost for Inventory

·       Production Planning System for Inventory

·        Approaches to Value for Inventory

·        Accounting Systems for Inventory

·        Estimating Systems for Inventory

·       Testing for Inventory Count Accuracy

·        Reconciliation of the Cost Approach for Inventory

·      Value Application for Inventory

·        Locational Impact on Value for Inventory

·        Aspects of Disposal for Inventory

·        Requirements for the Inventory Appraiser

·       Inventory Appraisal Requirements

·        Inventory Definitions & Explanations of Value

·       Inventory Glossary of Terms