58o 



PARKS 



FIGURE 6. No. 3. FORMS USED IN ISSUING STOCK FROM THE STOREHOUSE 



One form goes to the general office of the department providing data for maintenance of perpetual inventory 

 mentioned under Figure 5; one form to person receiving the stock and one retained by the storekeeper. 



In pricing the articles the general rule of using the cost price or market 

 price, whichever is the lowest, is generally accepted. There are times to 

 be sure, for example in 1920-1921, when it was even advisable, especially 

 for business concerns, to take even a more conservative viewpoint toward 

 inventories. This was true at that time because prices appeared to have 

 reached a point of extreme inflation, and rather a precipitous drop was apt 

 to occur at any time. The actual facts eventually sustained that opinion. 

 However, when prices are fairly stable, one is generally safe in using the 

 rule, cost price or market price, whichever is the lower. 



