Electrosteel Casting Store Officer Interview Questions and Answers

A store is a physical or online location where goods or services are sold to customers.

• Stores can sell a variety of products such as clothing, electronics, groceries, and more

• Stores can be brick-and-mortar locations or online platforms like Amazon or Etsy

• Stores often have sales, promotions, and discounts to attract customers

• Stores may offer services such as repairs, alterations, or consultations

• Stores can be independen...read more

Types of inventory include raw materials, work-in-progress, finished goods, and MRO supplies.

• Raw materials - materials used in the production process

• Work-in-progress - partially completed products

• Finished goods - completed products ready for sale

• MRO supplies - maintenance, repair, and operating supplies

• Example: Raw materials for a furniture manufacturer would include wood and fabric

FIFO stands for First In, First Out and LIFO stands for Last In, First Out.

• FIFO is a method of inventory valuation where the first items purchased are the first ones sold.

• LIFO is a method of inventory valuation where the last items purchased are the first ones sold.

• FIFO is commonly used in industries with perishable goods like food, while LIFO is used in industries with non-perishable goods like electronics.

• FIFO result...read more