If you drink a large (250ml) glass of wine, your body takes about three hours to break down the alcohol. If you drink one pint of beer, your body takes about two hours to break it down. One pint of strong lager is equivalent to three units, so this will take longer.
General Asset Differences. As a current asset, inventory is different from long-term assets in that it is typically acquired and sold within twelve months. Accounts receivable, cash and other marketable securities are other examples of current assets.
Inventory management is a crucial function for any product-oriented business. First in, First Out, or FIFO, and Last in, First Out, or LIFO, are two common methods of inventory valuation among businesses. The system you choose can have profound effects on your taxes, income, logistics and profitability.