Question

exercise
respond to the following based on your reading.

1. ________ is a record kept of any goods the company has or did have, how much they cost, where they came from, and where they are now.
2. you have to set up an inventory tracking system for promotional items sold to clients. name at least six possible categories of data you may need.
3. youre working on the annual budget for the shipping department. give at least two ways an inventory report would be helpful.

Explanation:

1. Inventory is the record of goods' details as described. For the second question, data categories for inventory tracking of promotional items could include item name, quantity, purchase date, cost price, selling price, and client name. For the third question, an inventory report helps in budget - planning by showing stock levels (to plan shipping volume) and identifying slow - moving items (to adjust shipping frequency).
2. Inventory is a key concept in business for managing goods. When setting up an inventory tracking system, various data points are needed to manage promotional items effectively. An inventory report is valuable for budget - related decisions in the shipping department.

Answer:

1. Inventory
2. Item name, Quantity, Purchase date, Cost price, Selling price, Client name
3. Helps in planning shipping volume based on stock levels; Helps in adjusting shipping frequency by identifying slow - moving items