About 50 units are required every day for a machine. A fixed cost of ₹ 50 is incurred for placing an order. The inventory carrying cost per unit amounts to ₹ 0.02 per day. The lead period is 32 days. Economic Order Quantity is
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FIFO method of valuing material issues is suitable in times of
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Which one of the following statements is true in ABC classification of materials?
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EOQ is 200 units, ordering cost Rs. 20 per order, and total purchases 4,000 units. The carrying cost per unit will be
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In a company, the weekly minimum and maximum consumption of Material-A is 25 and 75 units respectively. The re-order quantity as fixed by the company is 300 units. The material is received within 4 to 6 weeks from the issue of supply order. The maximum level of Material-A is
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In case of rising prices, the FIFO method will provide
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A company requires 1,500 units, of an item per month. The cost of each unit is Rs. 30. The cost of placing an order is Rs. 200 and the material carrying charges work out to be 20% of the average material. The economic order quantity (EOQ) is
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Under which of the following inventory control technique, the maximum and minimum level of each stock is laid down
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Bill of material acts as an authorization to the store’s department in procuring the material and all the materials listed on the bill is sent to the
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A store ledger is a record of receipts, issues, and closing balances of material by entering
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Which of the following method is based on the assumption that the costliest materials are issued first and inventory is valued at the lowest possible price?
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Under which of the following inventory control techniques, two piles or bundles are maintained for each item of stock
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