In a Shop There Are 25 Customers, 20 of Whom

question 5

Multiple Choice

In a shop there are 25 customers, 20 of whom will make a purchase. If three customers are selected,
One at a time, at random, what is the probability that all will make a purchase?

• A)0.5876
• B)0.4957
• C)0.6160
• D)0.5069

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Definitions:

Inventory Ledger

A detailed record that tracks the quantities and costs of all types of inventory a company has in stock during a specific period.

Weighted-Average Method

Valuing of inventory where each item is assigned the same unit cost. This unit cost is found by dividing the cost of goods available for sale by the total number of units for sale.

Perpetual Inventory System

An inventory management method where stock levels are updated continuously as sales and purchases occur.

Perpetual

A method of inventory accounting where inventory levels and cost of goods sold are updated in real-time with each sale or purchase transaction.