BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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raw materials, finished products that are held at location in the supply chain.
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raw materials, component parts, work-in-process, or finished products that are held at a location in the supply chain.
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raw material, components parts or finished products that are held at a location in the supply chain.
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None of the above
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Detailed explanation-1: -Inventory is the accounting of items, component parts and raw materials that a company either uses in production or sells. As a business leader, you practice inventory management in order to ensure that you have enough stock on hand and to identify when there’s a shortage.
Detailed explanation-2: -Inventory is a current asset account found on the balance sheet, consisting of all raw materials, work-in-progress, and finished goods that a company has accumulated. Ending inventory may be calculated using the FIFO method, the LIFO method, specific identification, and the weighted average method.
Detailed explanation-3: -Inventory is the raw materials used to produce goods as well as the goods that are available for sale. It is classified as a current asset on a company’s balance sheet. The three types of inventory include raw materials, work-in-progress, and finished goods.
Detailed explanation-4: -Raw materials inventory refers to the materials that are used to create a business’s finished goods. While raw material inventory is not sold to end customers as-is, a company keeps raw materials in stock so that they can turn them into work-in-process (or WIP) inventory or finished goods inventory.
Detailed explanation-5: -Answer: Explanation: ur answer is c. Inventory.