Item 18 of 25 One of the objectives of inventory management is Select the correct response: maintain inventory at a level that best balances the estimates of actual savings, cost of carrying additional inventory and efficiency of inventory control minimize production cost maximize the units in inventory maximize sales

Q: Under the dollar-value LIFO method, increases and decreases in an inventory pool are determined and…

A: Lets understand the basics. In dollar value LIFO method, inflation adjustment is considered to…

Q: Which of the following statements is correct with respect to inventories? The FIFO cost flow…

A: Inventory can be defined as the stock of goods or products that is manufactured and stored by the…

Q: Proponents of the LIFO Inventory cost flow assumption argue that this costing method is superior to…

A: LIFO is one of the inventory methods used to account for inventory. Here the inventory of the…

Q: QUESTION 4 Which of the following is used to analyze the efficiency and effectiveness of inventory…

A: The inventory management is responsible to manage the inventory of the business so that the sales…

Q: Match the inventory method with its related characteristic. Assume a period of rising prices in all…

A: The objective of the question is to match the inventory valuation methods (LIFO, FIFO, Weighted…

Q: What effect does each method used have on the firm’s reportedprofits? On ending inventory levels?

A: Answer: The following is the effect that each method of inventory on firms reported profits:…

Q: 28-Which of the following element of cost is important in calculating the cost of closing inventory?…

A: Closing inventory is amount remaining unsold at the end of the period.

Q: Which of the following is not an inventory method/cost flow assumption? O a. First-in, first-out O…

A: 5 methods for inventory cost are below: The retail inventory method. The specific identification…

Q: Prepare a memorandum containing responses to the following items. a.    Describe the cost flow…

A: a.

Q: which inventory valuation method assigns a value to the inventory on the balance sheet that…

A: Inventory method:   The inventory method is a method used to calculate the value of the inventory of…

Q: Refer to Supply Chain systems. What is the oplonich invonton?

A: Supply Chain System: A supply chain is a system of organizations, people, activities, information,…

Q: Evaluate different types of risk and costs if the financial director proposed to reduce inventory.…

A: The current ratio is computed by dividing current assets by current liabilities. The acid test ratio…

Q: In which of the following scenarios does the basic Economic Order Quantity model can be applied? * O…

A: Lets understand the basics. Economic order quantity(EOQ) is a quantity at which ordering cost and…

Q: In a period of rising costs, which inventory valuation method would a company likely choose if they…

A: The objective of the question is to identify the inventory valuation method that would result in the…

Q: 9. An inventory accounting policy that should be disclosed in a summary of significant accounting…

A: It is a footnote that accompany company financial statements. Such disclosure should form part of…

Q: QUESTION 1 A significant amount of accounting information is dedicated to planning and contraling…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: . What are some costs associated with high inventories? 3. What is a “supply chain,” and how are…

A: Inventory is defined as the goods and materials which the business holds for the purpose of resale.…

Q: ______________is one that tracks all inventory purchases and sales directly in the accounting…

A: FIFO: FIFO stands for First-In, First-Out.  In this method inventory purchased first will be sell…

Q: Planning and regulating inventory use and their associated expenses is the focus of a substantial…

A: When a wholesaler or trader buys items from manufacturers or wholesalers and resells them, this is…

Q: i need the answer quickly

A: Lower of cost or market method of inventory valuationUsing the Lower of cost or market method of…

Q: Why would a company choose to use an inventory costing method that estimates the cost of the goods…

A: In this question, we  explain that why would a company choose to use an inventory costing method…

Q: 1. Inventory management aims at a. increase customer service levels b. All of the above c.…

A: Inventory management refers to the process of ordering, storing and using a company's inventory.

Q: The two most widely used methods for determining the cost of inventory are a. gross profit and…

A: There are various inventory methods suitable for different cases.  Some inventory methods are: FIFO…

Q: Item 20 of 50 What is the functionality in SAP which covers inventory count process Select the…

A: Correct option is C. Physical inventory   Explanation:

Q: An old boiler cost P 2,400 a year to maintain. What expenditures for a new boiler is justified if no…

A: Old boiler's annual maintenance cost (C) = P 2400 New boiler's annual maintenance cost from year 4…

Q: What is inventory shrinkage? The difference between product cost and retail selling price. The…

A: Inventory shrinkage refers to the discrepancy between the perpetual system generated Inventory level…

Q: en 10 AA O A. The ec O B. The EC

A: Introduction : In simple words, economic order quantity as the name suggests refers to the quantity…

Q: Which method tracks the actual physical flow of goods and each item of inventory is marked, tagged,…

A: The correct option in no. 1 question is d. Specific identification method

Q: Question 10 Inventory costing methods are based on assumptions about: Neither flow of costs or…

A: The selection of an inventory method depends on different factors of the organization, such as the…

Q: The perpetual and periodic inventory systems are designed to ensure that inventory accounts are…

A: Perpetual Goods System: Under a perpetual inventory system, inventory records are always up to date…

Q: Lower-of-Cost-or-Market InventoryOn the basis of the following data, determine the value of the…

A: Inventory of a company is recorded at cost or market price, whichever is lower. Total cost price is…

Q: Why would a "Just in Time" inventory management practice be preferred over a "Just in Case inventory…

A: Just in Time Inventory Management:- It is the inventory technique where labor, material, and other…

Q: Multiple Select Question Select all that apply Which of the costs below would be included in the…

A: Accounting standard says that inventory should be valued at  cost or market which every is…

Q: Inquiries of warehouse personnel concerning possible obsolete inventory items provide assurance…

A: The value of inventory, the lower of cost and net realizable value, and obsolete items are among…

Q: 5- A measure useful in evaluäting the A. inventory turnover. B. days in inventory. Ĉ. Both ( a) and…

A: Inventory refers to the goods or items which are stored by the business either for selling or for…

Q: Question 8 Which of the following is an advantage of the periodic invêntory system?| frequent…

A: Periodic inventory system is that inventory in which all updates or changes will be made on periodic…

Q: 8.6 Presentation and Decision Analysis Why must companies report inventory composition? O so that…

A: In the business world, inventory is the term used to describe the goods, raw materials,…

Q: 1.At a time of declining prices, which cost flow assumption will result in inventory? A. FIFO B.…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.