ECONOMICS

COST ACCOUNTING

INVENTORY AND PRODUCTION MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
An inventory item
A
Stock Keeping Unit
B
Safety Stock
C
Usage
D
Finished Goods
Explanation: 

Detailed explanation-1: -A Stock Keeping Unit (SKU) is a unique identifier for a product, typically assigned by a retailer or manufacturer. It is used to track inventory and is typically associated with a product’s barcode. An example of a SKU is XYZ12345. This would be the unique identifier for a specific product, such as a T-shirt.

Detailed explanation-2: -SKU (pronounced “skew”), short for stock keeping unit, is used by retailers to identify and track its inventory, or stock. A SKU is a unique code consisting of letters and numbers that identify characteristics about each product, such as manufacturer, brand, style, color, and size.

Detailed explanation-3: -SKU stands for “stock keeping unit” and-as the name suggests-it is a number (usually eight alphanumeric digits) that retailers assign to products to keep track of stock levels internally. If a product has different colors and sizes, each variation has a unique SKU number.

Detailed explanation-4: -A stock-keeping unit (SKU) is a scannable code to help vendors automatically track the movement of inventory. SKUs often appear as bar codes or QR codes. Each item along with where it is sold will have its own unique SKU (but should not be confused with UPC barcodes)

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