Question 1
The cost of obsolescence, damage, and theft is considered part of
◦ shortage costs.
◦ opportunity costs.
◦ carrying costs.
◦ insurance costs.
Question 2
The inventory method that relies on deliveries coming right before they are needed is
◦ Just-in-Time.
◦ Basket.
◦ LIFO.
◦ FIFO.