Questions LLC
Login
or
Sign Up
Ask a New Question
Inventory Management
Inventory Systems
Periodic Inventory System vs. Perpetual Inventory System
identify whether each descripition best applies to a periodic or a perpetual inventory system
1 answer
You really should proofread what you post -- to make sure the entire thing posts. Copy/paste doesn't always work -- especially if you're trying to post a bulleted list or a chart or graph.
You can
ask a new question
or
answer this question
.
Similar Questions
Identify whether each description best applies to a periodic or a perpetual inventory system.
a. Provides more timely information
Top answer:
1 a. Periodic b. Perpetual c. Perpetual d. Perpetual
Read more.
The Major Issue in inventory accounting is:
A. determining whether to take inventory using cycle counts as opposed to counting
Top answer:
To determine the major issue in inventory accounting, we need to consider each option and understand
Read more.
Schumacher Company uses the perpetual inventory system, and it engaged in the following transactions during 2012:
1) Started the
Top answer:
The gross margin for the year 2012= Sales - cost of sales Margin= $7250-$3000= $4250
Read more.
On January 31, a count of ending inventory was completed, and 7,200 units were on hand. Using the periodic inventory system,
Top answer:
To calculate the cost of goods sold (COGS) and ending inventory using different inventory valuation
Read more.
Q.2. A company that uses the perpetual inventory system purchased $8,500 worth of inventory on September 25. Terms of the
Top answer:
guoyhuih
Read more.
Lakie uses a perpetual inventory system. Ending inventory consists of 500 units, 400 from the July 28 purchase and 100 from the
Top answer:
To determine the cost assigned to ending inventory and to cost of goods sold using different
Read more.
A company purchased 1000 units of inventory on September 25 and the cost per unit was $8.50. Terms of the purchase were 2/10,
Top answer:
To prepare the journal entries for the merchandise transactions, we need to consider the purchase of
Read more.
A company purchased 1000 units of inventory on September 25 and the cost per unit was $8.50. Terms of the purchase were 2/10,
Top answer:
Please see your later post, which I saw first. Sra
Read more.
You are a merchandiser that buys wild widgets from a vendor for $70 each, marks them up, and sells them for $100 each.
Top answer:
To journalize the three transactions, follow the steps below: Step 1: Identify the accounts involved
Read more.
Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances at September 1, 2011,
Top answer:
Please explain periodic inventory by three methods
Read more.
Related Questions
Select the correct answer to complete the sentence. Gravitational force is said to be universal because:
- it applies to all
in a jewelry store, rings make up 5/9 of the inventory. Earrings make up 4/15 of the inventory. How many times greater is the
a physical inventory on december 31 shows 2,000 units on hand. holliday sells the units for $12 each. the company has an
Meranda Corporation purchases $3,500 of inventory on account from Ashley Corporation. The journal entry to record this purchase
Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, the accounting
John's Specialty Store uses a periodic inventory system. The following are some inventory transactions for the month of May,
Question 4.2
McDuck Traders uses the perpetual inventory system to record inventory. During the current reporting period the
Journal Entries Under the Perpetual Inventory System
Bhushan Building Supplies entered into the following transactions.
if you're developing a human resource inventory, you should exclude which of the following?
a. names b. capabilities c. perpetual
Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Date