Which of the Following Is a Requirement of Just-In-Time Inventory

question 158

Multiple Choice

Which of the following is a requirement of just-in-time inventory management?

• A) a perpetual inventory system
• B) an average cost inventory costing method
• C) detailed information about profitability and the users of the company's financial statements
• D) detailed information about order-to-delivery times, receiving-to-sales times, and inventory quantities

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Definitions:

Mean

The average value of a set of numbers, calculated by dividing the sum of these numbers by the count of numbers in the set.

Population Standard Deviation

A measure of the dispersion or spread of a set of data points in a population, calculated as the square root of the variance.

Confidence Interval

A spectrum of values obtained from sample data, which has a high probability of encompassing an unknown characteristic of the entire population.

Mean

The mean, often referred to as the average, is a statistic that represents the central or typical value in a set of data, calculated by dividing the sum of all values by the number of values.