TERMIUM Plus^®

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The steps in the estimation procedure are the following. First, inventory book values are deflated using an appropriate price index, lagged and weighted to reflect the commodity composition of stocks, the average stock turnover period and the typical accounting method in a given industry. This yields new inventory book values measured at the prices of the base period. The change in this new volume series, referred to as the "physical change", is then revalued by the application of a price index reflecting the average market price prevailing for the current period. This revalued inventory change is called the value of physical change at current prices.  1, fiche 1, Anglais, - value%20of%20physical%20change%20in%20inventories

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