Asked by Brittany McCord on Jun 14, 2024
Verified
Inventories can be classified by form and function.
Inventories Classified
The categorization of stock or inventory based on various criteria, such as type, usage rate, or value, to ensure efficient management and control.
- Learn about the importance of various inventories within the context of supply chain management.
Verified Answer
EK
Edward KurowskiJun 20, 2024
Final Answer :
True
Explanation :
Inventories can be classified by their physical form (raw materials, work-in-progress, finished goods) and their function (maintenance and operating supplies, merchandise available for sale, materials used in production).
Learning Objectives
- Learn about the importance of various inventories within the context of supply chain management.
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