Ideally,inventory Purchases Occur in Response to ________ in a JIT

question 80

Multiple Choice

Ideally,inventory purchases occur in response to ________ in a JIT inventory system.

• A)customer demand
• B)optimal demand
• C)forecast demand
• D)supplier demand

Understand the accounting treatment for merchandise returns and allowances.

Distinguish between perpetual and periodic inventory systems and their respective accounting transactions.

Recognize the impact of purchase discounts, sales discounts, and credit card sales on financial statements.

Identify and understand various types of inventory costs, including freight-in and the limitation of cost to purchase price less discounts.

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Definitions:

Abusing Drug

The misuse or overuse of drugs, typically for nonmedical purposes, which often leads to addiction or harm.

Physical Dependence

A physiological state of adaptation to a substance, characterized by the emergence of withdrawal symptoms when the substance is not taken.

Withdrawal

The process of reducing or eliminating the use of a substance to which one has become dependent, often resulting in uncomfortable or harmful physical or psychological effects.

Tolerance

The process by which an organism becomes less responsive to a substance or stimulus after repeated exposure.