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The Quality Assurance Department selected a sample of 12 printed circuit boards and tested them. The number of defects in each circuit board was 3, 3, 0, 5, 1, 1, 5, 6, 6, 2, 0, and 1. What kind of control chart should be constructed to monitor the process?
Cost Flow Assumption
An accounting approach to determine the value of remaining inventory and cost of goods sold, not necessarily reflecting the actual physical flow of goods.
FIFO
An accounting method for inventory valuation where the first items purchased or produced are the first ones used or sold.
Average Cost
A method of inventory valuation where the cost of goods sold and ending inventory are calculated based on the average cost of all similar items held in inventory.
Inventory System
The method a company uses to manage and track its inventory, ensuring the right quantity of products at the right time and minimizing costs.
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