Merchandise inventory accounting systems can be broadly categorized into two types.They are ________.
A) FIFO and LIFO
B) perpetual and periodic
C) wholesale and retail
D) manufacturer and producer

Question

Quizplus · Accepted Answer

The two types of merchandise inventory accounting systems are perpetual and periodic. FIFO and LIFO are methods of inventory valuation, not accounting systems. Wholesale and retail, as well as manufacturer and producer, are not accounting systems for merchandise inventory.

Merchandise Inventory Accounting Systems Can Be Broadly Categorized into Two