Which of the Following Items Should Be Included in Inventory

question 121

Multiple Choice

Which of the following items should be included in inventory at the balance sheet date?

• A)goods in transit which were purchased FOB destination
• B)goods received from another company for sale on consignment
• C)goods sold to a customer, which are being held for the customer to call for at his or her convenience
• D)goods in transit which were purchased FOB shipping point

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Definitions:

Continuous Model

An analytical or simulation model that operates over a continuum of time or space, without discrete breaks or steps.

Mass Customization

A production approach where goods and services are customized to meet individual customer's needs with near mass production efficiency.

iTunes

A media player, media library, and mobile device management application developed by Apple Inc., used for purchasing, organizing, and playing digital music and videos.

Product Focus

A strategic emphasis on developing and enhancing products to meet customer needs and achieve competitive advantage.