Cost Accounting

ABC Analysis

Describe the ABC classification system. What is the purpose of classifying items in this fashion? What would be the primary value of ABC analysis to a retailer? To a manufacturer?

Accuracy

A vendor keeps careful records of the number of magazines she sells each day and the various costs that are relevant to her decision regarding the optimal number of magazines to purchase. For what reason might her results be inaccurate? What would she need to do in order to accurately measure the daily demand for magazines?

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