ERP Is Beneficial Because It Transforms Transactional Data into Information

question 8

True/False

ERP is beneficial because it transforms transactional data into information that can be used to support decision making.

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Definitions:

Ending inventory value

The final value of all unsold goods at the end of an accounting period.

FIFO

First-In, First-Out, an inventory valuation method where goods produced or acquired first are sold, used, or disposed of first.

Merchandise inventory

The goods and products that a retailer, wholesaler, or distributor has in stock and available for sale to customers.

Ending cost

This is likely intended to refer to the ending inventory cost, which is the value of goods available for sale at the end of an accounting period.