Merchandise Inventory accounting systems can be broadly categorized into two. They are:
A)FIFO; LIFO
B)perpetual; periodic
C)wholesale; retail
D)manufacturer; producer

Question

Quizplus · Accepted Answer

Merchandise Inventory accounting systems can be broadly categorized into two types, perpetual and periodic. In a perpetual inventory system, inventory balances are updated continuously as goods are received and sold. In contrast, a periodic inventory system updates inventory balances periodically, typically at the end of each accounting period.

Merchandise Inventory Accounting Systems Can Be Broadly Categorized into Two