The Periodic Inventory System Operates By

question 18

Multiple Choice

The periodic inventory system operates by:

• A) Keeping track of inventory as it comes into the organisation and as it leaves.
• B) Counting inventory at regular intervals to establish how much of each item is on hand.
• C) Assuming that the inventory that came in first is the first to be sold.
• D) Tracking the cost of specific items of inventory to the products sold by grouping items according to cost drivers.
• E) None of the given answers.

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Definitions:

Supporting Evidence

Information, data, or facts that underpin and reinforce a theory, hypothesis, or belief.

Unconditioned Stimuli

In classical conditioning, stimuli that naturally and automatically trigger a response without prior learning.

Overdoses

Excessive and dangerous doses of substances, leading to toxic reactions and sometimes death; commonly associated with drugs and medication.

Drug Tolerance

Drug tolerance occurs when an individual's physiological reaction to a specific drug diminishes with repeated use, leading to the need for higher doses to achieve the same effect.