Under a perpetual inventory system, any freight which is incurred when purchasing the inventory is debited to the inventory account.

Name: Under a perpetual inventory system, any freight which is incurred when purchasing the inventory is debited to the inventory account.
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Question

Quizplus · Accepted Answer

In a perpetual inventory system, freight costs incurred when purchasing inventory are added to the inventory account to reflect the total cost of acquiring the inventory.

Under a Perpetual Inventory System, Any Freight Which Is Incurred