COST ACCOUNTING
INVENTORY AND PRODUCTION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What are the typical measures of inventory commitment?
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TIME DURATION, DEPTH, WIDTH OF COMMITMENT, CUSTOMER SATISFACTION
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DEPTH, WIDTH OF COMMITMENT
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TIME DURATION, DEPTH, WIDTH OF COMMITMENT
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TIME DURATION, DEPTH, WIDTH OF COMMITMENT, EASY ACCESS
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Explanation:
Detailed explanation-1: -There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.
Detailed explanation-2: -Companies should pay equal attention to all five inventory types: raw materials inventory, work-in-progress (WIP) inventory, maintenance, repair, and operating (MRO) inventory, finished goods inventory, and packing materials inventory.
Detailed explanation-3: -Committed inventory describes inventory sold and paid for (“committed” to an order), but not yet fulfilled.
There is 1 question to complete.