Glencoe Accounting

Chapter 25: Inventories

Making It Personal

Garap Home Inventory

Taking inventory of your possessions is something that you will need to do if you plan to insure your household items. Unless you know what you have and how much it is worth, you will not know how much insurance to buy. Garap Home Inventory provides some details about home inventories and explains why they are important.

Destination Title: Garap Home Inventory

www.garapindustries.com/inventoryfacts.htm

Guided Activity

Start at the Garap Home Inventory Web site. Record your answers to these questions separately.

1. What will be required of you by your insurance company if you lose possessions in a fire or other disaster?
2. When is a good time to take an inventory of your possessions?
3. What modern technologies can help you take an inventory?
4. Can you estimate the total value of the items in your bedroom?