Which of the following is NOT associated with inventory measurement?

The correct choice identifies a method that is not directly involved in inventory measurement. Inventory measurement focuses on the quantifiable aspects of inventory, such as determining how much stock is on hand and how it is valued at a given time.

Measuring inventory through physical counts of raw materials and stocktakes of finished goods are direct methods used to accurately reflect the current volume and condition of inventory held. These approaches provide concrete data necessary for inventory records and financial reporting.

Additionally, recording stock movements when they occur in an inventory management system is crucial for maintaining real-time data on stock levels and valuation. This method helps ensure that the inventory reports reflect the actual inventory present, contributing to effective inventory management.

In contrast, estimating demand based on previous trends involves forecasting rather than measuring. While demand estimation can inform inventory management decisions, it does not provide an actual measurement of inventory quantities or lead to the valuation of inventory on hand. Thus, this choice stands apart from the other options, which are directly tied to measuring physical inventory.