The accuracy of perpetual inventory records may be established, in part, by comparing perpetual inventory records with:
A)purchase requisitions.
B)receiving reports.
C)purchase orders.
D)vendor payments.

Question

Quizplus · Accepted Answer

Receiving reports contain information about the quantity and description of goods received, which allows for the comparison of perpetual inventory records with actual inventory on hand. Purchase requisitions, purchase orders, and vendor payments do not provide information regarding actual inventory levels.

The Accuracy of Perpetual Inventory Records May Be Established, in Part