The Best Solution for Maintaining Accurate Automated Perpetual Inventory System

question 32

Multiple Choice

The best solution for maintaining accurate automated perpetual inventory system is to use

• A)closed-loop verification when inventory is received from vendors and recorded.
• B)point of sale devices integrated with inventory records.
• C)periodic physical counts to reconcile with perpetual inventory records.
• D)RFID tags.

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Definitions:

Marginal Cost

The additional expense incurred from manufacturing an extra unit of a product or service.

Wage Rate

The amount of compensation an employee receives per unit of time or per task performed, often expressed per hour or piece.

Monopsonist

A market situation in which there is only one buyer for a product or service.

Labor Supply Curves

Graphical representations that illustrate the relationship between the wage rate and the quantity of labor that workers are willing to supply.