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Six categories of costs associated with inventories are purchasing costs, ordering costs, carrying costs, stock out costs, quality costs, and shrinkage. Assume you are seasoned
Six categories of costs associated with inventories are purchasing costs, ordering costs, carrying costs, stock out costs, quality costs, and shrinkage. Assume you are seasoned manager training new employees about the importance of inventory management. In 200 words or more, describe at least two of these inventory costs. Include specific examples in order to effectively explain these concepts.
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