farm business management, farm inventory record sheets, farm depreciation record sheets, agricultural ecnomics department
Agricultural Extension Service, South Dakota State College of Agriculture and Mechanic Arts
Inventories are an essential part of a farm record. Taken at the beginning and end of the year, they show whether one has been increasing or decreasing the among of livestock, grain, feed, and supplies on hand. An increase in inventory represents income, even though it is not in the form of dollars and cents. A decrease in inventory means that some of the livestock, grain, etc., produced in previous years has been sold or used. Since this was not produced during the current year, it should be considered an expense and deducted from the gross income as such.
This item is in the public domain.
McCullough, H., "Inventories and Depreciation Accounts" (1922). SDSU Extension Circulars. 60.