The ________ Is a Technique That Divides Inventory into Three

question 62

Multiple Choice

The ________ is a technique that divides inventory into three groups, according to dollar investment.

• A) JIT system
• B) ABC system
• C) EOQ model
• D) LIFO model

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Definitions:

Tariff

A tariff is a tax on imports or exports between sovereign states, often used by governments to protect domestic industries from foreign competition or to generate revenue.

Salmon

A species of fish commonly found in the Atlantic and Pacific Oceans, known for its pink to orange flesh.

Smoot-Hawley Tariff

A set of protectionist tariffs enacted in 1930 in the United States, which raised import duties on thousands of goods, contributing to the severity and duration of the Great Depression.

Dumping

The practice of a company selling a product in a foreign market at a price lower than its cost of production or lower than the price in its domestic market.