Counting different parts of inventory at different times of the year is called
A)LIFO inventory.
B)Inventory cutoff.
C)Cycle counting.
D)Just-in-time inventory.

Question

Quizplus · Accepted Answer

Cycle counting involves counting different parts of inventory at different times of the year. LIFO inventory refers to the method of accounting for inventory, inventory cutoff refers to the point in time where transactions are recorded, and just-in-time inventory is a system where inventory is ordered only when needed, without excess stockpiling.

Counting Different Parts of Inventory at Different Times of the Year