You own and operate a small gift shop that specializes in the Christmas season. It is January and you are taking inventory. What are some of the types of inventory that you might have in stock?
What will be an ideal response?
You would primarily have seasonal inventory in stock as many of the items you have are demanded at a specific time of the year - the Christmas season. You also may have some obsolete stock, since some of the products you have may have a new collection next holiday season or are "stamped" with a specific year. You could have some anticipative stock ordered for the next season because you thought something might make it difficult for you to order this inventory. Finally, some of your inventory could be cyclical, carried to meet the average demand of your customers.
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