Second Section: Multiple Choice Questions and please circle the correct answer (each question 5 marks), 1. When the inventory is lying in the showroom of the organization or it is in the custody of the dealers, it is known as............ a. Material in Transit b. Transportation Inventories c. A and B both d. Dealers Stock Element of Competency Contribute to the level of stocks. 2. What are the semi-finished products during the production cycle? Production Inventories b. In process Inventories Maintenance Repair and Operation (MRO) Raw Material and Supplies Inventories Element of Competency Contribute to the level of stocks. 3. What are the costs of inventory? a ordering costs. b. carrying costs shortage / stock out costs All of the above Element of Competency Contribute to the level of stocks. Collaborate on warehouse management