Large Cost Savings from Reduced Inventories and Labor Savings by Needing

question 120

True/False

Large cost savings from reduced inventories and labor savings by needing fewer workers to handle inventory can be driving forces associated with the implementation of just-in-time inventory control systems.

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Definitions:

List Price

The manufacturer's suggested retail price of a product before any discounts or allowances.

Purchases Discount

A reduction in the amount payable by a buyer to a seller, if the payment on the purchase is made within a specified period.

Chart Of Accounts

A list of the accounts in the ledger.

Merchandising Business

A company that purchases goods wholesale and resells them at retail, making profit from the markup.