FIFO Costing, the Valuation Audit Trail and Predictive Reorder Levels — Assessment

1. What happens to stock value on the day a workspace switches from moving average to FIFO?

Every item is revalued at its oldest receipt cost Nothing is revalued; each item’s layers are closed into one at that day’s cost Every item is revalued at its latest purchase price Stock is valued at zero until the next receipt

2. Under FIFO, which cost does a sale carry?

The average of all receipts The oldest open cost layers first The buying price on the item The latest receipt’s cost

3. Why can no import or background job change an item’s cost without appearing in the valuation audit trail?

The item record writes the trail itself on every save that moves the cost Imports are blocked from changing costs The trail is rebuilt nightly An administrator approves every change

4. In the stock ledger reconciliation, what does Book not equal to Shelf usually point to?

An expired batch A closed period A write that updated the item total or its locations but not both A price change

5. A supplier’s observed lead time is wrong because of two rushed deliveries. What should you do?

Wait for the next nightly run Delete the receipts Type the real lead time for that supplier on the item Switch the warehouse back to fixed levels

6. A supplier fills only 40% of each order. How does that affect the predictive maximum?

The supplier is blocked The maximum is divided by the fill rate, but never more than doubled The maximum is set to zero It is ignored

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