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Is fifo the inventory costing method that follows the physical flow of the goods?
no, FIFO, LIFO, and weighted-average method are cost flow assumptions these assumptions bear no relation to the physical flow of goods; they are merely used to assign costs to inventory units.
Which of the following are important assumptions that economists make when developing theories?
Ceteris paribus and self-interest
What is the historical background of inventory system?
an inventory system is process for managing and locating objects or materials.
Compare the assumptions Theory X makes about workers with those of Theory Y How do these different assumptions influence management styles?
The assumption that Theory X and Theory Y about workers influences management styles. The assumptions of these two theories differ from employee motivation as well as satisfying employees' needs.
What are the Criticism of the assumptions economic order quantity?
The Economic Order Quantity (EOQ) model is criticized for its reliance on several assumptions that may not hold true in real-world scenarios. It assumes constant demand and lead time, which can lead to inaccuracies in inventory management in dynamic markets. Additionally, the model presumes that holding and ordering costs are fixed, ignoring potential fluctuations in these expenses. Lastly, EOQ does not account for inventory perishability or obsolescence, which can significantly impact inventory decisions.
Inventory costing methods place primary emphasis on assumptions about?
Inventory costing methods place primary emphasis on assumptions about flow of costs.
What potential research problem arises when generalizing theories are based on specific situations?
The assumptions may be exaggerated.
Inventory costing methods place primary reliance on assumptions about the flow of?
costs
History of inventory system?
The history of inventory systems depends on the type of inventory system being discussed. There are two main types of inventory systems, the perpetual inventory system and the periodic inventory system.
What is NEPA inventory system?
nepa inventory system
Is fifo the inventory costing method that follows the physical flow of the goods?
no, FIFO, LIFO, and weighted-average method are cost flow assumptions these assumptions bear no relation to the physical flow of goods; they are merely used to assign costs to inventory units.
Discuss the features of computer based inventory system?
COMPUTER BASED INVENTORY SYSTEM COMPUTER BASED INVENTORY SYSTEM
Which of the following are important assumptions that economists make when developing theories?
Ceteris paribus and self-interest
What is merchandise inventory system?
Merchandise inventory:
How do you ask questions regarding inventory system?
what are the possible questions for inventory system?
What methods do not require a physical inventory periodic inventory system perpetual inventory method retail method or gross profit method?
periodic inventory system
What are the disadvantages of a periodic inventory system?
The perpetual inventory system is more complicated, requires more accounting entries and is more costly the periodic inventory system does.
