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Exam NetSuite ERP Consultant topic 1 question 56 discussion

Actual exam question from NetSuite's NetSuite ERP Consultant
Question #: 56
Topic #: 1
[All NetSuite ERP Consultant Questions]

A company that uses FIFO costing method is going live.
Which transaction best captures the time-based nature of inventory cost?

  • A. Adjust Inventory Worksheet
  • B. Item Fulfillment
  • C. Inventory Allocation
  • D. Adjust Inventory
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Suggested Answer: D 🗳️
by Ella007 at May 23, 2023, 2:47 a.m.

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TomGreen
2 months, 2 weeks ago
Selected Answer: D
Another strangely difficult to understand question. Why mention "... goes live"? ->D
upvoted 1 times
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TomGreen
2 months, 2 weeks ago
Another strangely difficult to understand question. Why mention "... goes live"? ->D
upvoted 1 times
...
NetSuiteDragon
7 months, 2 weeks ago
Selected Answer: B
B has to be the right answer. Ex: Monday, you buy 20 calculators at $10 each and place them in inventory. Tuesday, you buy 20 calculators at $15 each and place them in inventory. Wednesday, you sell 5 calculators to a customer. For FIFO method, the 5 calculators post a cost of $10 each because that is the cost of the first calculators added to inventory and it best captures the time based nature of inventory cost
upvoted 1 times
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Ella007
1 year, 6 months ago
Adjust Inventory - D.
upvoted 3 times
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C (25%)
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