Two Methods of Setting the Costs of Inventory on Hand

question 64

Multiple Choice

Two methods of setting the costs of inventory on hand are _____.

• A)inside and outside
• B)book and physical
• C)FIFO and LIFO
• D)adjusted (for shortage/overages)and unadjusted

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Definitions:

Output Per Worker

A measure of productivity calculated by dividing total output by the number of workers.

Increasing Productivity

A process or strategy aimed at enhancing the efficiency of production, often resulting in higher output with the same or less input.

Human Resource Management Practices

The systematic management of people within an organization, including recruitment, selection, training, development, and compensation.

Organizational Size

A measurement reflecting the scale and scope of an organization, often considered in terms of employees, revenues, or physical footprint.