Match Each Definition with the Correct Term Below

question 144

Multiple Choice

Match each definition with the correct term below.
-Cost flow

• A)An inventory management system in which the Internet is used to order and track goods.
• B)A method of valuing inventory that assumes that costs of the first items acquired should be assigned to the first items sold.
• C)A method of estimating inventory that uses the ratio of cost to retail price.
• D)Merchandise that its owner places on the premises of another company with the understanding that payment will be made only when the merchandise is sold.
• E)An inventory management system in which goods arrive just at the time they are needed.
• F)when sales have reduced inventories below the levels set in prior years.
• G)A method of estimating inventory that assumes the gross margin for a business remains relatively stable from year to year.
• H)The association of costs with their assumed flow in the operations of a company.
• I)A method of valuing inventory that assumes that the costs of the last items purchased should be assigned to the first items sold.
• J)A method of valuing inventory that identifies the cost of each item in ending inventory.

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Definitions:

Workforce

The total number of people engaged in or available for work, either in a specific region, industry, or company.

Address Issue

The act of identifying, confronting, and finding a resolution for problems or challenges.

Artificial Intelligence

Describes the simulation of human intelligence processes by machines, especially computer systems, encompassing learning, reasoning, and self-correction.

Decision Making

A process of selecting the best solution from multiple alternatives to solve problems or achieve objectives.