Question

Hi I need help

What is necessary in order to prevent running out of needed supplies? O Create a good relationship with each supplier. Order as many supplies as there is room to store. Keep supplies with the expiration date closest to the current date to the front. O Determine a realistic reorder point, and order new supplies when that point is reached.

Answer 1

Ans) Keep supplies with the expiration date closest to the current date to the front

Explaination:

- FIFO" stands for first-in, first-out, meaning that the oldest inventory items are recorded as sold first but do not necessarily mean that the exact oldest physical object has been tracked and sold. In other words, the cost associated with the inventory that was purchased first is the cost expensed first.