Please select one from these multiple choices.

$6-$ What is the purpose of a stockout cost?

To capture the cost associated with running out of stock

To calculate the average cost of inventory items

To determine the optimal reorder quantity

To analyze the profitability of products

$7-$ How can Excel help in inventory forecasting?

By automating the inventory counting process

By generating purchase orders automatically

By using functions such as FORECAST and TREND to analyze historical data and predict future demand

By calculating the total value of inventory items

$8-$ What is ABC analysis in inventory management?

Analyzing the buying behavior of customers

Classifying items based on their relative importance in terms of value and usage

Calculating the average cost of inventory items

Analyzing the profitability of products

$9-$Which Excel feature can be used to create inventory dashboards and visualizations?

Conditional Formatting

Data Validation

Goal Seek

PivotTables and PivotCharts

$10-$ What is the purpose of lead time in inventory management?

To calculate the average time between customer orders

To determine the profitability of products

To track the movement of inventory within a warehouse

To account for the time it takes to receive inventory after placing an order