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Topic Content:
- Meaning of Farm Inventory
- Importance of Farm Inventory
- Example of Farm Inventory Record
What is Farm Inventory?
This is a complete listing of all farm assets and materials. Farm inventory also includes an estimate of the market value of everything available.
Farm inventory information is normally recorded on the last day, of the business year, and is required by banks and also for income tax filing.
It can also be taken twice, at the beginning and end of the year.
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