Which of the Following Is Not a Step in the Forecasting

question 39

Multiple Choice

Which of the following is not a step in the forecasting process?

• A) Determine the use of the forecast.
• B) Eliminate any assumptions.
• C) Determine the time horizon.
• D) Select forecasting model.
• E) Validate and implement the results.

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Definitions:

Raw Materials Inventory

Raw Materials Inventory is the stock of materials that are on hand and available for use in the production process.

Finished Goods Inventory

Products that have completed the manufacturing process and are ready to be sold to customers.

Weighted Average Cost

A method of calculating the cost of goods sold and ending inventory cost by taking into account the cost of goods purchased at varying prices.

Beginning Inventory

The value of a company's inventory at the start of an accounting period, used in calculating cost of goods sold.