When New World Recycling Does Forecasting,it Goes Directly to Customers

question 40

Multiple Choice

When New World Recycling does forecasting,it goes directly to customers and asks them what their anticipated needs are for the coming time period.This method is known as _________.

• A)Sales force composite
• B)Jury of executive opinion
• C)User expectations
• D)Delphi technique
• E)None of these

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Definitions:

Specific Identification

An inventory valuation method where each item in inventory is matched with a specific cost.

Inventory Costing

Inventory costing is the method used to assign costs to inventory items, determining the cost of goods sold and remaining inventory value.

Average Cost Formula

A method for determining the cost of inventory by dividing the total cost of goods available for sale by the total number of units available for sale.

Ending Inventory

The total value of goods available for sale at the end of an accounting period, after accounting for sales and purchases during the period.