The Inventory System That Classifies Items Based on the Total

question 28

Multiple Choice

The inventory system that classifies items based on the total dollar volume of sales that each item generates is known as which of the following?

• A) Economic order quantity
• B) ABC classification
• C) Electronic data interchange
• D) Reorder point and quantity

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Definitions:

Plaintiff

The party who initiates a lawsuit in court, alleging harm or injury by another party and seeking legal remedy.

Harm

Physical injury, damage, or negative impact caused to a person, property, or other entity.

Use

Refers to the manner or purpose for which something is put into action or service.

Consumption

The use of goods and services by households or individuals.