1. ABC analysis is based on Pareto's principal |
2. FIFO and LIFO policies can be used for material valuation in materials management. |
3. Simulation can be used for inventory control. |
4. EOQ (Economic Order Quantity) formula ignores variations in demand pattern. |
A) 1 alone is correct
B) 2 and 3 are correct
C) 2, 3 and 4 are correct
D) 1, 2, and 4 are correct
Correct Answer: D
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