The Amount of a Particular Item Ordered from a Supplier

question 93

Multiple Choice

The amount of a particular item ordered from a supplier is called the ______.

• A)lot size
• B)batch
• C)consignment
• D)quantity of shipment

---

Definitions:

Gross Profit Margin

A financial metric indicating the percentage of revenue that exceeds the cost of goods sold; it measures a company’s production efficiency.

Sales Revenue

The income received by a company from its sales of goods or the provision of services.

Product Costs

The total costs directly tied to the creation of a product, including raw materials, labor, and overhead expenses.

Periodic Inventory System

An inventory accounting system that records the inventory levels and cost of goods sold (COGS) at the end of an accounting period, not tracking each sale or purchase individually.