The number of times during an operating period that the average dollars invested in merchandise inventory were theoretically sold out is called inventory _____. targetestimation valuationturnover
Q: The warehouse manager maintains physical inventory records as well as the accounting records. With…
A: The Fraud Triangle is a concept that explains why employees commit fraud at work. It is made up of…
Q: Assume a firm seeks to minimize its total inventory costs of ordering widgets that it needs for its…
A: Given- Annual demand (D) = 30,000 widgetsOrdering cost (S) = $25 per orderHolding cost (H) = $6…
Q: Additional units that are held in inventory to reduce stock-outs are called _______. a. Safety stock…
A: Safety stock is the level which is kept by the company to avoid stock out situation. Re-order is the…
Q: Inventory turnover is O a. Higher when product takes longer time to manufacture O b. Ratio of annual…
A: the correct answer is
Q: Jasim owns a bakery that makes bread and pastries out of grain and sells them direct to consumers.…
A: A retailer can be explained as a company or person who use to sells products or goods directly to…
Q: 2. An auto parts store sells 10 units of engine oil daily. The store's supplier requires a 7 day…
A: Given Daily demand (d) = 10 Lead time (L) = 7
Q: A retailer determines that the cost of ordering and storing units of a product can be modelled by…
A: Linear programming, often known as linear optimization, is a method for obtaining the best result…
Q: A system that keeps a continuous tracking of the movements of inventory is called a…
A: Below is the solution:-
Q: Which of the following is an element of inventory holding costs? All of these are elements of…
A: Inventory is the raw materials and resources that help the business to manufacture the finished…
Q: Which of the following orders is most useful to short sellers who want to limit their potential…
A: Primary motive of short selling is to earn profit from fall in price of the commodity and also to…
Q: What is the Production-Inventory Strategy in terms of inventory to contribute to the efficient and…
A: Manufacturing inventory, or production inventory, is all of the supplies and materials on hand meant…
Q: Shouldn’t a company always select the inventory method that results in the highest net income so the…
A: Below is the solution:-
Q: Inventory holding costs are the costs of storing products until they are purchased or shipped to…
A: Inventory- The raw materials used in production, as well as the products manufactured that are…
Q: High inventory turns rate is generally a favorable statistic. True False
A: Inventory turnover is the ratio of inventory sold or consumed in a given period of time. The…
Q: Inventory turnover is O a. Higher when product takes longer time to manufacture O b. Ratio of…
A: Inventory Performance measures and system-wide approaches are used to calculate the accuracy of the…
Q: A. An example of a dependent demand inventory item in truck manufacturing is/are: a. New…
A: Production is the process of manufacturing the finished products and services using the raw…
Q: What kind(s) of storage should be used to ensure long-term viability
A: Protecting your data against deterioration or other types of loss begins with selecting the…
Q: Answer the following true or false.d. ABC analysis ranks items according to the annual value of…
A: ABC analysis is described as the process of classification of items that are inventoried and the…
Q: a) If cooking oil can be ordered as needed, what reorder point should be used? Answer in 2 decimal…
A:
Q: The principal goal of inventory management systems is to balance the costs of ordering, shipping,…
A: Inventory is a term that defines the raw materials, and parts that are used by a company for selling…
Q: You work for the Brad's Nailer Company which manufactures three types of nailers: a pneumatic model,…
A: X = Pneum. units to be produced Y = ProLine units to be produced Z = Cordless units to be produced…
Q: It is costly to hold inventory, but inventory can also be useful in a process because:a. adding…
A: Inventory management is a process of storing, utilizing, and keeping a check on the inventory levels…
Q: what effect has inventory management (as separate from increasing sales) on cash? Why/how can…
A: Inventory management is the management in which raw material and finished products are managed and…
Q: Uncommitted inventory is called a. Free inventory b. Safety stock c. Obsolete inventory d.…
A: Inventory is the products or material that an organization produce to achieve the desired goal.
Q: . The overall objective of inventory management is to achieve satisfactory levels of customer…
A: Concept Introduction Inventory Management can be define as a process where plans are made to…
Q: 22 _____________is one that measure the level of inventory and the cost of goods sold by using an…
A: _____________is one that measure the level of inventory and the cost of goods sold by using an…
Q: Which model of the following has been used to calculate the Inventory cost: Average inventory *…
A: Inventory costs are those costs incurred in procuring, storing and managing inventory. The types of…
Q: A business introduces e-purchasing and is able to process the same number of orders with lesser…
A: The production plant is the place where the company set up the system to manufacture the finished…
Q: A firm has $5,000,000 of inventory on average and annual sales of $30,000,000. Assume there are 365…
A: Inventory conversion period means the number of days taken for converting the raw materials into…
Q: ABC Company is planning to stock its product which is classified as an inventory item. The company…
A: Given data is Annual demand(D) = 16200 units Carrying cost(H) = 0.28×730=P204.4 Order cost(S) = P220
Q: What will happen if a stock is not degreased?
A: Small Introduction of Stock A stock (some of the time called value) may be a budgetary instrument…
Q: Do you think the safety stock (safety inventory) could be negative? What is the meaning of a…
A: The term safety stock can be understood as the inventory which is kept as a buffer. It is the…
Q: It takes approximately 2 weeks (14 days) for an order of steel bolts to arrive once the order has…
A: Formula:
Q: Return on inventory is the return on every inventory item purchased in a business.
A: The return on any inventory item purchased in a company is known as the return on inventory.
Q: Ordering Costs are associated with keeping stock over time. Select one: True False
A: The correct answer is False
Q: Safety stocks are kept O a. To provide protection against the uncertainties of supply and dema O b.…
A: Option A is correct To provide protection against the uncertainty of supply and demand
Q: Overall Objective of inventory management is to O a. keeping the lowest inventory on hand to reduce…
A: Reliability in the product shows its worth and ensures that the product will not fail when required…
Q: What special procedures should be used to control the most expensive and most frequently used…
A: A Small Introduction about Inventory Management Inventory management alludes to the method…
Q: Why is the control of maintenance, repair, and operating inventory typically a difficult task for…
A: Inventory maintenance includes maintaining, repairing, and operations (MRO) of the inventory…
Q: In your own words, discuss the differences between a perpetual and periodic inventory system. Your…
A: Inventory is the stock, items, and raw material that the company stores in the warehouse to use in…
Q: What trade-offs are involved in each of these aspects of inventory management? Buying additional…
A: Trade-offs play an important role in the inventory management of an organization. It is always…
Q: Explain what is the definition of a deterministic inventory model ? When is it appropriate to use
A: A cost is the value of dollars spent on producing something or providing a service but it is no…
Q: Which of the following is true for inventory control: Select one a . Economic order quantity has…
A: Answer- (B) All the Options are correct. It means inventory control has: Economic order quantity…
Q: Which of the following procedures will best detect the theft of valuable items froman inventory that…
A: Inventory is the term which is defined as the goods as well as materials that the business holds for…
Q: The inventory system in which goods available for sale is updated on a continuous basis by computer…
A: Inventory is the stock, items, and raw material that the company stores in the warehouse to use in…
Q: The company believes that a proper inventory control system (techniques) helps the enterprise in…
A: Inventory management helps in the effective management of inventory and is not only time-saving but…
Q: ABC analysis divides on-hand inventory into threeclasses, based on:a) unit price.b) the number of…
A: Here, Option (d) is the correct answer. ABC analysis divides on-hand inventory into three classes,…
Q: The average lead time is 10 days and the average daily usage of widgets is 20. The company has…
A: A reorder point (ROP) is a detailed level at which your stock needs to be reloaded. In simple words,…
Q: Suppose you have been given the task of reducing inventory in your company, without negatively…
A: ANSWER : The first step I would take to reduce inventory is analyzing the raw material used for…
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- Knowing how to use the ABC analysis, make up a list of 10 items in a stores inventory, then decide which 10 items sold at the store would constitute 80% of the revenue and create a Word document using the ABC analysis.Arrow Distributing Corp. likes to track inventory by using weeks of supply as well as by inventory turnover. Arrow Distributing Corp. Net Revenue $15,630 Cost of sales $12,190 Inventory $1,090 Total assets $8,770 a) What is its weeks of supply? weeks (round your response to two decimal places). b) What is Arrow's inventory turnover? times per year (round your response to two decimal places). c) Suppose a manufacturer has an inventory turnover of 13.5 times per year. Arrow's supply chain performance relative to the manufacturer's, as measured by inventory turnover, is47 Companies take a physical count of inventory at the end of the accounting period. Taking a physical count of inventory involves_________________________. a. Counting of each kind of inventory b. Measuring of each kind of inventory c. Weighing of each kind of inventory d. All the given option
- A. An example of an inventory carrying cost is: a. Ordering or setup cost b. Warehousing variable expenses c. Warehousing fixed expenses d. Item cost B. A “pull” production system is: a. Complex planning b. Control oriented c. Planning oriented d. Quality via inspectionThe production system's objective of minimizing inventory investment is centrally important to which of the following stakeholders? OA VP Marketing ObVP Quality OVP Manufacturing Od VP FinanceThe following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $49.00 First purchase 18 units at $54.00 Second purchase 25 units at $59.00 Third purchase 14 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1,127.00 $1,357.00 $3,616.00 $3,593.00
- Which one of the following represent FIFO method of inventory evaluation? a. Old merchandise is sold first b. Average number of goods are sold c. Old items remain in inventory d. New merchandise is sold firstIt takes approximately 2 weeks (14 days) for an order of steel bolts to arrive once the order has been placed. The demand for bolts is fairly constant; on the average, the manager, Michelle Wu, has observed that the hardware store sells 500 of these bolts each day. Because the demand is fairly constant, Michelle believes that she can avoid stockouts completely if she orders the bolts at the correct time. What is the reorder point? The reorder point is? units (enter your response as a whole number).You are the operations manager of a firm that uses the continuous review inventory control system. Suppose the firm operates 252 days a year and has the following characteristics for its primary item: Demand = 25,000 units/year Ordering cost = $30/order Holding cost = $1/unit/year Lead time = 4 days Standard deviation in daily demand = 10 units What is the total holding cost per year, including annual holding cost for safety stock (to the nearest whole number)? (Service level=95%) answer is 645 but why?
- Inventory tracking is concerend both ith the quantity and the location of the goods in inventory. Select one: a. True. b. False.Inventory is the raw materials, work-in-process products and finished goods from the portion of a business's assets that are ready or will be ready for sale. Judge THREE (3) effectiveness of perpetual inventory for the food service organization and explain the impact of the system on the purchasing process. Please answer as quick as possible.A firm has P5,000,000 of inventory on average and annual sales of P30,000,000. Assume there are 365 days per year. What is the firm’s inventory conversion period?