A System of Producing Inventory Where Goods Are Produced Only

question 145

Short Answer

A system of producing inventory where goods are produced only when needed by a customer or work center is referred to as a _________________________.

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Definitions:

Perpetual Inventory System

A method of inventory management where updates to inventory records are made continuously as transactions occur.

Net Price Method

An accounting method where discounts are not recorded in the accounting records; instead, purchases are recorded at the net purchase price.

Exchange Rates

The price of one country's currency in terms of another currency, which determines how much foreign currency one can buy with a unit of domestic currency.

Euros

The euro is the official currency of 19 of the 27 European Union countries, which together comprise the Eurozone.