Asked by
Carl Andrei Brigoli
on Oct 23, 2024Verified
What types of businesses usually hold significant quantities of inventory?
A) Manufacturing and wholesale
B) Wholesale and retail
C) Manufacturing, wholesale and retail
D) Retail, manufacturing and service
Significant Quantities
Items or entities in considerable amounts that are large enough to warrant attention or impact assessment.
Inventory
Inventory refers to the goods and materials that a business holds for the ultimate goal of resale or processing, including raw materials, work-in-progress, and finished goods.
Manufacturing
The process of converting raw materials or components into finished goods through the use of tools, machinery, and labor.
- Recognize and classify various types of expenses associated with managing inventory.
Verified Answer
PS
Learning Objectives
- Recognize and classify various types of expenses associated with managing inventory.