19. The valuation approach to making short-term financial decisions uses discounting to assess shareholder wealth effects. Using a cash ow timeline to assess various inventory purchase quantities is premised on an objective which should lead to enhanced shareholder wealth, which is maximizing return on inventory investment minimizing the sum of inventory holding and ordering costs minimizing the present value cost of inventory-related cash ows * maximizing the gross margin return on inventory investment none of the above PPPFP