Walmart Has Developed a Sophisticated Inventory Management and Cost Control

question 49

Multiple Choice

Walmart has developed a sophisticated inventory management and cost control system that allows rapid price changes for each product in the store.The firm also uses technologies such as ________ to improve the quality of information available about products.

• A)radio frequency identification
• B)encapsulation techniques
• C)bar code scanners
• D)nanotechnology
• E)cookies

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Definitions:

Equivalent Units

A measure used in cost accounting to represent the amount of work done on partially finished goods, expressed in terms of fully completed units.

Materials Entered

The recording of raw materials introduced into a production or manufacturing process, taking note of their quantity and value.

Equivalent Units

A measure used in cost accounting to express the amount of work done by manufacturers in terms of fully completed units, accounting for partially completed goods as well.

Physical Units

A measure of quantity in terms of countable items or units, often used in production and inventory contexts.