Pharmacy Inventory Management 2 — Questions and Answers
Question 1: A pharmacy uses a perpetual inventory system. What is the primary advantage of this system over a periodic system?
- Real-time tracking of stock levels after every transaction (Correct answer)
- Requires only a monthly physical count
- Eliminates the need for reorder points
- Reduces the cost of carrying inventory
Correct answer: Real-time tracking of stock levels after every transaction
A perpetual inventory system continuously updates stock levels with each purchase or dispensing transaction, providing real-time visibility.
Question 2: Which DEA schedule requires the use of DEA Form 222 or the CSOS electronic equivalent for ordering?
- Schedule III
- Schedule IV
- Schedule II (Correct answer)
- Schedule V
Correct answer: Schedule II
DEA Form 222 (or its electronic equivalent CSOS) is required for ordering Schedule II controlled substances.
Question 3: A pharmacy technician notices a medication has an expiration date of '08/2026.' When does this product expire?
- August 1, 2026
- August 15, 2026
- August 31, 2026 (Correct answer)
- September 1, 2026
Correct answer: August 31, 2026
A medication expiring '08/2026' is considered usable through the last day of August 2026, which is August 31, 2026.
Question 4: What is the purpose of a 'par level' in pharmacy inventory management?
- The maximum amount of a drug that can be legally stocked
- The minimum stock quantity that triggers a reorder (Correct answer)
- The amount dispensed per patient per day
- The quantity received in a standard wholesaler shipment
Correct answer: The minimum stock quantity that triggers a reorder
Par level is the minimum stock quantity at which a reorder is triggered to prevent running out of a medication.
Question 5: A pharmacy discovers a bottle of tablets with visible discoloration and clumping. What is the most appropriate action?
- Dispense if within expiration date
- Quarantine and return to the manufacturer or reverse distributor (Correct answer)
- Crush and dispose down the sink
- Relabel with a new expiration date
Correct answer: Quarantine and return to the manufacturer or reverse distributor
Visually compromised medications should be quarantined and returned to the manufacturer or a reverse distributor as they may be degraded or unsafe.
Question 6: Which inventory valuation method assumes the first items purchased are the first items sold?
- LIFO (Last In, First Out)
- FIFO (First In, First Out) (Correct answer)
- WAC (Weighted Average Cost)
- Specific Identification
Correct answer: FIFO (First In, First Out)
FIFO assumes the oldest inventory (first purchased) is sold first, which aligns with best practices for rotating stock to prevent expiration.
Question 7: When a pharmacy receives a drug recall notice for Class I, what action is required?
- Remove product from shelves within 30 days
- Immediately remove product from dispensing and notify patients who received it (Correct answer)
- Continue dispensing until replacement stock arrives
- Wait for FDA confirmation before acting
Correct answer: Immediately remove product from dispensing and notify patients who received it
A Class I recall involves serious health risk or death; immediate removal and patient notification are required.
Pharmacy Inventory Management 2
A pharmacy uses a perpetual inventory system.
What is the primary advantage of this system over a periodic system?