Multiple Choice
Good inventory management allows for which type of production operation?
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5. Inventory
Inventory Errors
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Which of the following is NOT typically included as detailed information in the master inventory log?
A
Employee payroll data
B
Unit cost
C
Item description
D
Quantity on hand
Verified step by step guidance1
Understand the purpose of a master inventory log: It is a detailed record used to track inventory items, their descriptions, quantities, and costs. It helps businesses manage their inventory effectively.
Review the typical components of a master inventory log: These usually include information such as item descriptions, unit costs, and quantities on hand. These details are essential for inventory management and financial reporting.
Analyze the options provided: Employee payroll data is unrelated to inventory management. Payroll data pertains to employee compensation and is typically recorded in payroll systems, not inventory logs.
Compare the relevance of each option to inventory management: Unit cost, item description, and quantity on hand are directly tied to inventory tracking and valuation, while employee payroll data is not.
Conclude that employee payroll data is NOT typically included in the master inventory log, as it does not pertain to inventory tracking or valuation.
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