Which term is defined as the price the pharmacy pays for the product?

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Prepare for the PTCB Supply Chain and Inventory Management Test with flashcards and multiple choice questions, complete with hints and explanations. Enhance your pharmacy tech skills and ace your exam!

Multiple Choice

Which term is defined as the price the pharmacy pays for the product?

Explanation:
Acquisition cost is the price the pharmacy pays to obtain a product from a supplier. This is the actual purchase price per unit and is used to value inventory and calculate cost of goods sold. It’s different from carrying costs (the ongoing expenses of holding inventory), procurement costs (the administrative and ordering expenses to acquire goods), and stock-out costs (losses from running out of stock). So acquisition cost best matches the definition of the price the pharmacy pays for the product.

Acquisition cost is the price the pharmacy pays to obtain a product from a supplier. This is the actual purchase price per unit and is used to value inventory and calculate cost of goods sold. It’s different from carrying costs (the ongoing expenses of holding inventory), procurement costs (the administrative and ordering expenses to acquire goods), and stock-out costs (losses from running out of stock). So acquisition cost best matches the definition of the price the pharmacy pays for the product.

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