Hi, Please help me answer these. Thank you! Lesson 10: 1. Explain the importance of effective and efficient inventory management. 2. Enumerate and explain the four basic costs associated with inventories. Direction: Identify the following sentences below. 1. It refers to a stock or store of goods/products. 2. It refers to the amount paid to a supplier or vendor to buy inventory. 3. It is the cost of storing an item in inventory for a length of time. 4. A system where a physical count of items in inventory is made at periodic, fixed interva 5. A system that that keeps track of removals from inventory on a continuous basis. 6. A system which records annual sales. 7. It is the cost of ordering and receiving inventory 8. It is the cost which results when demand exceeds supply of inventory. 9. An approach to inventory management which classifies inventory according to importan 10. It is the time interval between ordering and receiving the order. Last Instruction: list the different functions of inventory