Narges Works in a Bakery

question 41

Multiple Choice

Narges works in a bakery.As part of a _____ team,she shares in the responsibility with other team members of managing her department's work schedule and ordering baking supplies.Along with other team members,she is empowered to complete her tasks at her discretion.

• A)self-managed
• B)problem-solving
• C)virtual
• D)cross-functional

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Definitions:

Retail Inventory Method

An accounting technique used to estimate inventory value by converting retail prices to cost prices.

Cost To Retail Ratio

A method to estimate the value of ending inventory and cost of goods sold based on the ratio of cost to the retail price of goods.

Ending Inventory

The cost of items on offer at the close of an accounting term.

FIFO

"First-In, First-Out," an inventory management and valuation method where the earliest goods acquired are the first sold or used.