Tonglit Autogistic Store Executive Interview Questions and Answers

LIFO-FIFO system is a method used to manage inventory. LIFO stands for Last In, First Out, while FIFO stands for First In, First Out.

• LIFO method assumes that the last items added to the inventory are the first ones to be sold or used.

• FIFO method assumes that the first items added to the inventory are the first ones to be sold or used.

• LIFO is commonly used when the cost of inventory is rising, as it allows for higher co...read more

Inventory is the list of goods and materials held by a business for sale or use in production.

• Inventory management involves tracking and controlling inventory levels.

• It helps in avoiding stockouts and overstocking.

• Inventory turnover ratio is used to measure the efficiency of inventory management.

• Just-in-time (JIT) inventory system is a popular inventory management technique.

• Examples of inventory include raw materials,