chapter 12 quick quiz

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7 Terms

1
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(1) percent stocked (2) annual dollar volume (3) percentage of annual dollar volume / class percent value (percents added together) (4) class

2
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percent stocked

amount of respective A/B/C’s divided by total amount of items

3
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annual dollar volume

annual volume (units) x unit cost

4
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percentage of annual dollar volume

class percentages respectively and added together (class % value)

5
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class

A’s should have the least amount of items, with the biggest percentage(s), C’s should have half of the items, and the smallest percentages

6
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In cycle counting, you should…

always round up

7
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Cycle counting how to:

divide quantity by working days