Managerial Accounting
7th Edition
ISBN: 9781260247886
Author: Wild
Publisher: MCG
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Chapter 2, Problem 1AA
To determine
(1)
Just in time is a system which is used by the manufacturing industry for the purpose of less the storage cost which is normally high for the perishable goods.
Just in time system help that when goods actually require to the business then order for goods and used immediately.
Just-In-Time (JIT) stock refers to an inventory management technique wherein the aim is to have stock with ease to be had to meet the demand for, while not having any extra quantities available.
To discuss:
Effect on the operating
To determine
(2)
Just in time method and management of cash is a very important relationship in any business. Because good inventory decision is very effective for the cash boost up powerful. If a company fails the inventory holding time period then a company blocked the investment which is invested in the inventory.
To discuss:
The impact would a JIT inventory system have on the company’s inventory and operating cash flows.
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