Outdoors Ltd manufactures garden furniture and sells them through a range of wholesalers. The management of ABC ensures of sufficient level of trade, by keeping a tight control on its inventory. The management of the company has asked you to produce a report on the following: a) Using relevant examples, clearly, distinguish between management planning and control in decision-making processes. (250 words) b) Outdoors currently applies a variable stock valuation method and is considering changing it to the full-absorption or activity-based method. As part of this process, you are required to explain and differentiate the three underlined methods in the calculation of the total inventory. (750 words) Layout: – Font style, Arial, font size 12 – 1.5 line spacing. – The page orientation should be ‘portrait’ – Margins on both sides of the page should be no less than 2.5 cm – Pages should be numbered

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