The time period between placing an order its receipt in stock is known as

Related MCQs

• If WIP opening stock is 10,000 units, work done in the period is 13,000 and WIP closing stock is 5,000 units. The equivalent completed unit during the period is:
• …………………….is a buffer stock level or safety stock level under which the stock should not be allowed to fall.
• The average stock level is………….. units if the maximum stock level is 2475 units and the minimum stock level is 855 units.
• The document prepared on receipt of materials in store is known as
• The order cost per order of an inventory is Rs. 400 with an annual carrying cost of Rs. 10 per unit. The Economic Order Quantity (EOQ) for an annual demand of 2000 units is
• ‘Buffer stock’ is the level of stock
• Under……………… method of pricing issues, issues are valued at a price calculated by dividing the total cost of material in the stock by the total quantity of material in stock.
• The receipt of…………….is the first step in purchase procedure.
• The stock level at which the storekeeper initiates purchase requisitions is known as………….
• The…………….must maintain a proper classified record of all purchases, uses and stock of materials.