Scott Tarnowski Owns a Pet Grooming Shop

question 57

Short Answer

Scott Tarnowski owns a pet grooming shop. His prices for grooming dogs are based on the size of the dog. His records from last year are summarized below. Construct a frequency distribution and a relative frequency distribution. Show the percentage represented by each relative frequency. $$\begin{array} { c c } \text { Class } & \text { Frequency } \\\hline \text { Large } & 345 \\\text { Medium } & 830 \\\text { Small } & 645\end{array}$$

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Definitions:

Specific Identification Method

An inventory costing method in which costs are assigned to individual items, enabling precise cost determination of goods sold and ending inventory.

Inventory Cost

The total cost associated with acquiring goods for sale, including purchase price, taxes, and shipping.

Interchangeable

Items that are so similar in nature that they can be swapped or substituted for one another without affecting function or value, important in inventory management and manufacturing.

Goods Available

The total quantity of goods on hand at any time, including both inventory that is ready for sale and materials that will be used to produce goods.