| A | B |
|---|
| computer based | THESE inventory systems are faster and more accurate than manual systems. |
| staple items | THESE items rarely have rarely have price changes so they can be marked by the pre-retailing marking method. |
| Visual control | THis method for monitoring inventory with stock cards DOES NOT show sales rates, and is NOT easy to use. |
| BOTH | Businesses will often use _________ a perpetual inventory system AND a physical inventory system to calculate the value of their year-end inventory. |
| UPC | THESE bar codes replace the need for marking merchandise with an electric or manual pricing machine. |
| blind check method | Method that should be used to ensure quick and accurate merchandise checking if the merchandise is needed to get on the floor quickly |
| electronic data interchange (EDI) | The purpose of THIS is to to transact purchase orders between businesses |
| stock shortage | The difference between recorded sales and inventory based on a physical count |
| direct check | Checking method is susceptible to errors if receivers do not physically count the total number of items in a shipment |
| gum label | Many stores use THIS to mark the price on items with hard, flat surfaces |
| basic | A stationery store might include writing paper, envelopes, and pens on THIS stock list |
| receiving | The steps in the stock-handling process are ____________________ goods, checking them, and marking them, and sometimes delivering them. |
| perpetual | Included in this type of inventory system is: EDI systems that involve computer-to-computer information exchanges. |
| $12,000 | What is average inventory IF:inventory in a store was $6,000 for month 1 $15,000 for month 2 and $15,000 for month three. |
| Stock Transfer | This movement of merchandise from the sales floor to warehouse is called THIS |
| Inventory Management | the process of buying and storing merchandise while controlling the costs related to ordering, shipping, handling, and storage |
| physical | Employees count stock when using THIS type of inventory system. |
| perpetual | THIS type of inventory system helps businesses track items in inventory on a constant basis |
| dock | covered area where carriers unload deliveries. |
| inventory turnover | number of times inventory is sold and replaced in a given period |
| apron | a form attached to an invoice that moves with the goods received |
| dollar control | planning and monitoring the total inventory investment |
| blind check | a method for checking merchandise received against a purchase order or invoice |
| unit control | quantities of stock that a business handles in a certain time period |
| receiving record | information regarding goods received by a business |
| credit memorandum | notification a buyer receives after returning merchandise |
| inventory | all merchandise available for sale |
| source marking | allows merchandise to move directly from receiving to the sales floor |
| stock shortage | loss of inventory due to theft or error |
