If a Seller Does Not Sell the Same Goods or Services

question 95

Essay

If a seller does not sell the same goods or services separately,the selling prices should be estimated using prices that maximize observable inputs.What are the three suggested approaches to accomplish this?

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Definitions:

Value Engineering

A systematic process aimed at increasing the value of a product, project, or service by examining its functions, improving performance, and ensuring cost efficiency.

Value Analysis

A systematic approach to assess the functionality of goods and services with the goal of reducing cost without compromising on quality.

Reducing Costs

A process aimed at lowering the overall expenses involved in running a business or producing goods and services.

Supply Management

The practice of managing the supply chain activities and relationships to achieve competitive advantage and optimize cost.