ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As inventory is sold, it is subtracted from the inventory list . Which type of inventory control is this?
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Just in Time
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Perpetual
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Partial
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Visual
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Explanation:
Detailed explanation-1: -Perpetual inventory continuously tracks and records items as they are added to or subtracted from the inventory. And it keeps track of the cost of goods purchased and sold. Physical inventory uses a periodic schedule to manually count and record items and keep track of the cost of what’s bought and sold.
Detailed explanation-2: -What is Perpetual FIFO? Perpetual FIFO is a cost flow tracking system under which the first unit of inventory acquired is presumed to be the first unit consumed or sold.
Detailed explanation-3: -When the perpetual inventory system is used, the inventory sold is debited to: Sales.
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