What Is The Lean Perspective on Inventory?

Q: How is the cost of ending inventory determined when pools are used?

A: A LIFO inventory pool is a method under which the individual units having same physical similarities…

Q: What does inventories /sales ratio mean?

A: An accounting metric used to measure liquidity, solvency, efficiency etc. of a business entity is…

Q: What is a LIFO inventory pool?

A: Definition: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So,…

Q: Define inventory.

A: Inventory: Inventory consist of total of three components: raw material, work-in-process and…

Q: What is the concept of material inventory error?

A: Raw materials inventory: Raw material inventories are the primary materials which are used in the…

Q: how much is the inventory write down for the finished goods?

A: The ending inventory is measured at cost or net realizable value whichever is lower. The comparison…

Q: Define inventory costing system.

A: Inventory cost flow assumptions: These are the methods used by the companies to compute the cost…

Q: What are the inventory accounts used in JIT costing?

A: JIT (Just-In-Time) inventory system is usually implemented in an organization to reduce the amount…

Q: What are three goals of inventory management?

A: Inventory management: Inventory management refers to ordering, storing and using the company’s…

Q: What are characteristics of the perpetual inventory system?

A: Perpetual Inventory System: Perpetual Inventory System refers to the inventory system that maintains…

Q: what is FIFO inventory method?

A: FIFO inventory method is one of the methods of calculation of value of ending Inventory and cost of…

Q: the different types of purchasing procedures

A: A purchase process is a formal and systematic process of purchasing goods and service by an…

Q: What is inventory blanket lien?

A: Lien: Lien is a lawful right in contradiction of assets that are usually utilized as security to…

Q: What is the Cost of goods sold equation?

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: What is the adjusted inventory?

A: Calculation of Adjusted Value of Inventory Particulars Amount Unadjusted Inventory Balance…

Q: Best Model for Managing Inventory and explain?

A: Inventory control helps your business maintain the right amount of inventory while reducing costs.…

Q: Write out the formula for the total costs of carrying and ordering inventory, and then use…

A: The formula for the total costs of carrying and ordering inventory and using the formula to derive…

Q: What is inventory conversion period?

A: Conversion period refers to the length of period at which one asset is converted into another form.…

Q: How is inventory valuation made? Explain?

A: Stock or inventory are important yet inert resources lying with the organization at the end of an…

Q: What is the role of Finished-goods inventory?

A: Stock is the term used for the products that are ready for sale and raw materials used to create…

Q: The cost accounting system that significantly reduced inventory-carrying costs is called:

A: Just-In-Time Purchase system: A just-in-time (JIT) inventory system is a business approach that…

Q: What is the definition net cost of purchases?

A:

Q: Why is reduce inventory cost is an advantage of inventory outsourcing?

A: Inventory is defined as the goods as well as materials, which has the business holding for an…

Q: What is an upstream sale of inventory?

A: The upstream sale of inventory is an inter-company transaction between the parent company and the…

Q: Explain Inventory Estimation Techniques.

A: Inventory Estimation Techniques:

Q: Describe the issues in managing different typesof inventory.

A: Inventory Management:   Inventory management is a process that refers to ordering, storing and using…

Q: Define the term inventory costs.

A: Inventory:   Inventory refers to the raw materials, work-in process, and the finished goods…

Q: Explain the different types of inventory.

A: Inventory:   Inventory refers to the raw materials, work-in process, and the finished goods…

Q: What is a downstream sale of inventory?

A: The downstream sale of inventory is an inter-company transaction between the parent company and its…

Q: Explain inventory system and its functions

A: Inventory is the detailed list of items that are present on hand. It constitute of all the finished…

Q: When would slicing and dicing be an appropriate OLAP tool? Give an example of inventory

A: OLAP means Online Analytical Processing. It includes decision support, modeling, information…

Q: What is the role of Cost Accounting in Price Determination ?

A: The primary difference between fixed as well as variable costs is made in cost accounting.…

Q: e category you put cost accounting, inventory management and budgeting?

A: Accounting is called the process of compiling and checking all the transactions of a company in…

Q: What are the components of total inventory costs?

A: Total Inventory Cost consist three main component.