CRCST Practice Exam

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Prepare effectively for the CRCST Exam with comprehensive quizzes and resources that offer insights and explanations. Boost your confidence and enhance your knowledge as you face your certification with clarity!

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What type of inventory system keeps track of all incoming and outgoing supplies so that quantities of supplies in storage are known at all times?

Just-In-Time Inventory System
Periodic Inventory System
Perpetual Inventory System
Consignment Inventory System

The correct answer is: Perpetual Inventory System

A Just-In-Time Inventory System involves ordering supplies only when they are needed, rather than keeping stock on hand. This may not keep track of all incoming and outgoing supplies, as the focus is on minimizing the amount of inventory kept on hand. A Periodic Inventory System involves taking physical counts of supplies at regular intervals, rather than keeping track of inventory in real-time. This may not provide accurate information about current stock levels. A Consignment Inventory System involves storing and selling goods on behalf of a supplier, rather than tracking inventory for one's own business. In contrast, a Perpetual Inventory System uses technology and software to track inventory levels in real-time, providing more accurate and up-to-date information about stock quantities.