INVENTORY Most businesses do an annual inventory. Some even dose down for a day to do it Others actually hire extra people to conduct the inventory. More sophisticated businesses have a constant in ventory because they put it all on the computer. The computer program records all purchases and inputs, all sales or outgoes, and a running balance between the two. Farm inventories are rather unique (like most things connected with farming including the people). Much of the inventory has no cost basis, just a market value. This market value goes up and at least on an annual basis ana can fluctuate rather widely on a monthly basis. However, it is still a necessary chore if a farm manager desires a reasonable accurate farm analysis, balance sheet, or true profit and loss statement It also is very useful if he or she wishes to do a projection, develop budgets, or see if feed FLEX-AUGER, caw feeding igprcfitieaks Put Chore-Time FLEX-AUGER® Cow Feeding System to work boosting your income Feeding supplement by hand wastes money two ways: (1.) Some cows get too much, others not enough wasting feed and hurting production. (2.) It’s time and labor spent you’d be money ahead to put into management. Mechanize your feeding with an inexpensive, energy-efficient Chore-Time Cow Feeding System. Feed each cow the right amount, as many times a day (to boost production) as you want by automatic timeclock, or by pulling a lever. Find out about the Chore-Time system our 10-year warranty on auger plus the line of feed bins that outsell all others in America because of their built-in quality and long life. COMPLETE SYSTEMS, EQUIPMENT, SALES, INSTALLATION, SERVICE FOR CATTLE, HOG, POULTRY AND GRAIN AGRI- 2754 CREEK HILL RD., LEOLA, PA 17540 PHONE: 717-656-4151 * SERVING PA, N.J. and N.Y. supplies are in balance with livestock needs. When to inventory The proper time to do an in ventory for a farm business is not as important as the consistency of doing it Ideally the time would be as dose to the end of the business fiscal year as possible (right now for example). Whether you do it then or 3 months later is not as important as doing it in the same period of time each year. My advice is to do your inventory now while you have time. What to inveatory Some 6f your assets are relatively stable such as land. You do not often add or delete acres. Others are depreciable assets so you have a rudimentary inventory on them. Examples of these would be buildings and machinery. The ones that will take the most time and effort will be livestock and crops. If you want to have an accurate value for all assets you may ignore the depreciable EQUIPMENT,.NC. balance on depreciation items and value them at market. How to inventory Let's take each category separately. Grain - Measure to arrive at the number of bushels of each type of grain on hand. You need three measurements of square, rec tangular or triangular structures. Height, length and depth in feet will give cubic feet. Cylindrical structures need two measurements or use a table. Once you get the cubic measurement, divide by 1.25 to get bushels of grain except for ear corn (use 2.5 for that). Silage & Haylage - Use tables from “Silos and Silage" handbook which is available from your county agent Keep each type of silage separate. A moisture test will help. Hay • Count bales then weigh ten or more random bales or weigh a truck load to get weight per bale. Mow measurements are nut very accurate due to differences in bale density and bale stacking. Hogs • Inventory by type (sows, gilts, boars, feeders) and size (baby pigs to 40 lb, etc). Count the number in each group. Beef - Same as for bogs. Dairy - Inventory by type (cows, baby calves, unbred heifers, bred heifers) by breed and by registered or unregistered. Count STORE HOURS: Mon-Fri. 7:30 to 4:30 Sat. 7:30 to 11:30 Lancaster Farming, Saturday, January 15,1983—09 the number in each group. Or price each individual animal. Prices Use current market prices for ffrain, hay, and all livestock. Silage Delmarva Pork Congress NEWARK, Del. - The third annual Delmarva Pork Congress will be held Jan. 19-20 at the Wicomico Youth and Civic Center is Salisbury, Md. The event gets under way Wednesday night with a consumer program from 7 to 9. This will feature carcass cutting demon strations by Jack Kling of Kling’s Meat Inc., a cooking demon stration on “heavenly ham" by Delaware extension home economist Sally Foulke, and en tertainment by University of Delaware agricultural editor Jerry * Webb. Highlight of the evening will be the awarding of prizes in the Favorite Pork Recipe Contest. The producer program on Thursday, Jan. 20, will run from 9 a.m. to 4 pm- It will open with a trade show. The morning speaker will be Ray Washam, manager of swine technical services in the swine research department of the Ralston Purina Company. He will talk on nursery management. The first afternoon speaker will be Matt Parsons, Penn State Extension swine specialist, talking about what computers can do for swine producers. He will be followed by Bob Purkey, vice For fast, reliable feeding plus ... easy maintenance and low investment. • High Volume • Mounts Left or • Simplicity Plus Right Side • Continuous-drive • One Motor—No Plow Reversing Switches • Installs Quickly * "Affordable automatic feeding with Patz dependability.”^ DISTRICT MANAGER GEORGE HEATH 472 Woodcrest Dr. Mechamcsburg, PA 17055 1 717-737-0002 Contact your nearest Patz dealer ALEXANDRIA MARYLAND DEALERS MAX ISENBEKG 814-669-4027 BALLY LON6ACRE ELECTRIC 215445-2261 BEDFORD BENCE FARM EQUIPMENT 814-623-3601 BELLEVILLE MACLAY ft SON 717-935-2101 QUARRYVILLE NEW WINDSOR. M UNICORN FARM ' CAMP HILL CFDVirr ROOP FERTILIZER ■ iruFHirii LLOYD SULTZBAUGH JAMES E. LANDIS 717-737-4554 717-756-4158 HAMBURG SHARTLESVILLE FARM SERVICE 215-488-1025 is a little more difficult. A table appeared in one of my corn newsletters for com silage prices. Haylage can be converted to hay if you have a moisture test. Jan. 19-20 president and commodity office manager for Merrill Lynch, speaking on market outlook and futures marketing opportunities for hog farmers. Tickets for lunch cost |S and are available through advance sale only. They can be obtained from any committee member or at local county extension offices. The meeting is open to everyone regardless of race, color, sex, handicap, age or national origin. It is being sponsored by the Delaware and Maryland Pork Producers Associations and the Cooperative Extension Services of Delaware and Maryland. LEBANON MARVIN J. HORST HAGERSTOWN, MD DAIRV EQUIPMENT TRI-STATE 717-272-0871 FARM AUTOMATION 301-790-3698 MMSM S!!!! 5 ™ KENNEDYVILLE AUTOMATION 717-437-2375 PIPERSVILLE MOYER FARM SERVICE 215-766-8675 TERRE HILL TERRE MIL SILO CO. INC. 215-445-6736 MO FINDER SERVICE CO. 301-345-5263 LINEBORO. MD WERTZ GARAGE, INC. 301-374-2672 STREET. MD P&S EQUIPMENT, INC. 301-452-8521
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