"Garbage In, Garbage Out" Is a Saying That Indicates That

question 76

Essay

"Garbage in, garbage out" is a saying that indicates that if the input is bad, a good result cannot be expected. Explain how this saying applies to research design and results.

---

Definitions:

Perpetual Inventory System

An inventory tracking system where updates are made continuously to reflect sales, purchases, and returns in real-time.

LIFO

Last-In, First-Out, an inventory valuation method where the most recently produced items are recorded as sold first.

Ending Inventory

The cumulative worth of all unsold merchandise at the close of a financial period.

Retail Method

An accounting method used to estimate inventory value by converting the cost of goods available for sale into retail prices and then calculating ending inventory at retail prices.