The statement concerning the perpetual inventory method that is incorrect is:
A) A stocktake is required to estimate cost of sales
B) A continuous record is kept of all movements in inventory
C) With the increased use of computers it has become the most common system
D) Cost of sales is calculated for each transaction
Correct Answer:
Verified
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Q5: Moon uses a periodic inventory system
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Q10: In performing a stocktake care must be
Q11: The statement that is not true concerning
Q12: The essence of the perpetual method of
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