IIA-CIA-Part3 Exam Dumps | A perpetual inventory system uses a minimum quantity on hand to initiate purchase ordering procedures

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Question 1/152

A perpetual inventory system uses a minimum quantity on hand to initiate purchase ordering procedures for restocking. In reviewing the appropriateness of the minimum quantity level established by the stores department, the internal auditor is least likely to consider:

A. Stock out costs, including lost customers.

B. Seasonal variations in forecasting inventory demand.

C. Optimal order sizes determined by the economic order quantities model.

D. Available storage space and potential obsolescence.

Correct Answer: C

The basic economic order quantity (EOQ) model is based on the following variables: demand, variable cost per purchase order, and variable unit carrying cost. Thus, minimum stocking levels do not affect the EOQ.

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