New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which group of activities below is ranked from the

    LOWEST cost of inventory to HIGHEST cost of inventory?
    A hair salon - dry cleaner - insurance company Correct Answer Incorrect Answer
    B hotel - airline - amusement park Correct Answer Incorrect Answer
    C auto repair centre - hotel- hospital Correct Answer Incorrect Answer
    D auto repair centre - dry cleaner - insurance company Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Inventory of services is different from that of goods. For example, if a physician is available to see patients the inventory cost is the physician's salary and the cost of medical equipment available for the physician's use.

    Practice Next