Listed below are a number of common manufacturing costs.For each cost,state whether the cost would be considered a direct (D)or indirect (I)cost in a traditional manufacturing environment and in a JIT manufacturing environment.
Definitions:
Merchandise Inventory
Goods that a company holds for the purpose of selling them to customers.
Perpetual Inventory System
A method of inventory management where updates to inventory levels are made in real-time following every sale or purchase.
Merchandise Inventory
Goods that a retail merchandising business holds for sale to customers.
Periodic Inventory System
An inventory system that records inventory purchase or sales at the end of a period rather than after each transaction.
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