Examlex
How can group technology be used in a service setting? Provide an example and describe two advantages of using this principle in a service setting.
Provision For Inventories
An accounting practice where a reserve is made for potential decreases in the value of a company’s inventory.
Inventories Losses
Reductions in the amount or value of inventories due to factors such as deterioration, obsolescence, or theft, resulting in financial loss.
Lower Of Cost
An accounting principle requiring that the inventory is recorded at the lower of its cost or the current market value.
Net Realisable Value
The estimated selling price of goods, minus the costs of their completion and the costs needed to make the sale.
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