GUIDE EXAM QUESTIONS AND
ANSWERS 2026/2027 NEW UPDATE
What are the four broad categories of inventory? - ANS✔✔---
raw materials work-in-progress finished goods maintenance,
repair & operations (MRO)
What are the inventory cost categories? - ANS✔✔---direct,
indirect, fixed, variable, order/setup, holding/carrying
What is inventory turn ratio? - ANS✔✔---how many times
inventory can turn over in a given period
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