The perpetual inventory system is a system which:
A) updates inventory continuously.
B) uses either FIFO,LIFO,weighted-average,or specific invoice method.
C) never needs a physical inventory taken.
D) both A and B.
Correct Answer:
Verified
Q10: Under the perpetual inventory system, in addition
Q12: The journal entry to record the return
Q15: Inventory becomes part of Cost of Goods
Q17: Which of the following accounts is used
Q18: Under the perpetual system,the purchase of merchandise
Q21: When a perpetual inventory system is used,a
Q22: In a periodic inventory system,Purchases,Freight,and Purchases Returns
Q23: Prepare journal entries for the following
Q24: Prepare journal entries for the following
Q34: Indicate the account(s) to be debited and
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