The Major Issue in inventory accounting is:
A. determining whether to take inventory using cycle counts as opposed to counting all inventory only at the end of the year.
B. deciding whether to maintain records on a periodic or perpetual basis.
C. determining what goods to include in inventory.
D. choosing the method for allocating goods available for sale to ending inventory and cost of goods sold.

The answer is A?

  1. 👍 0
  2. 👎 0
  3. 👁 392

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math - PLease help!

    Five-eights of Jesse Black's inventory was destroyed by fire. He sold the remaining part, which was slightly damaged, for one-third of its value and received $1300. a)What was the value of the destroyed part of the inventory?

  2. Business

    Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. Thomas’s fastest moving inventory item has a demand of 6000 units per year. The cost of each

  3. accounting

    Schumacher Company uses the perpetual inventory system, and it engaged in the following transactions during 2012: 1) Started the business by issuing common stock for $7,500 cash 2) Paid cash to purchase $5,000 of inventory 3) Sold

  4. math

    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 ring inventory than the earring inventory?

  1. finance

    Which method of controlling pledged inventory provides the greatest degree of security to the lender? A. Overall inventory liens B. Trust receipts C. Warehousing D. Blanket inventory liens

  2. math

    Janise is a sole proprietor owning a small specialty store. the business records show that the cost of the stores individual inventory items have been steadily increasing. the cost of the end of the year inventory is 125,000 and

  3. production and operations management

    All of the following statements about ABC analysis are true except: A. Inventory may be categorized by measures other than dollar volume B. It categorizes on-hand inventory into 3 groups based on dollar volume C. It states that

  4. accounting

    Determine the ending balance of the Merchandise Inventory account given the following transactions: TooDaLoo had a beginning balance of $8,500 in its Merchandise Inventory account. They purchased $45,000 worth of inventory on

  1. fin 324

    5.) Managing Working Capital. A new computer system allows your firm to more accurately monitor inventory and anticipate future inventory shortfalls. As a result, the firm feels more able to pare down its inventory levels. What

  2. math help please

    jasper owns a small retail store as a sole proprietor. the business records show that the cost of the stores inventory items has been steadily increasing. the cost of the end of the year inventory is 200,000 and the cost of the

  3. business

    At the end of January, Mineral Labs had inventory of 725 units, which cost $10 per unit to produce. During February the company produced 650 units at a cost of $14 per unit. If the firm sold 1,000 units in February, what was the

  4. business math

    The French company has a beginning inventory of $77,000 and an ending inventory of $80,000. sales were $280,000. assume French's markup rate on the selling price 40%. based on the selling price what is the inventory turnover at

You can view more similar questions or ask a new question.