QUESTION $16$

Inventory Management

Please match

A$.$

Inventory Turnover Ratio

B$.$

Cycle counting

C$.$

Inventory

D$.$

Independent$-$demand items

E$.$

Purchase cost

F$.$

Holding $($carrying$)$ costs

G$.$

Ordering costs

H$.$

Setup costs

I.

Shortage costs

A$.$

Costs of ordering and receiving inventory

B$.$

The amount paid to buy the inventory

C$.$

The costs involved in preparing equipment for a job

Analogous to ordering costs

D$.$

Items that are ready to be sold or used

E$.$

A stock or store of goods

F$.$

A physical count of items in inventory

G$.$

Cost to carry an item in inventory for a length of time, usually a year

H$.$

Costs resulting when demand exceeds the supply of inventory; often unrealized profit per unit

I.

Ratio of annual cost of goods sold to average inventory investment