Question

What is meant by inventory control? Explain the different costs associated with inventory.

Answer 1

Inventory management costs. Inventory costs are all costs associated with ordering, holding and managing the inventory or stock of an operation or business. These inventory costs include Ordering costs, holding costs, and shortage costs.
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Answer 2

Answer:

Explanation:

Inventory management costs. Inventory costs are all costs associated with ordering, holding and managing the inventory or stock of an operation or business. These inventory costs include Ordering costs, holding costs, and shortage costs.