The detailed records of purchases and sales maintained under the perpetual inventory system make which costing method more practical than when a periodic system is used?

A) Specific identification
B) Average-cost
C) LIFO
D) FIFO


C

Business

You might also like to view...

As explained in the text, there are six major steps in the accounting process

Indicate whether the statement is true or false

Business

The operating cash flow/total debt ratio is one that indicates a firm's ability to meet its current maturities of debt

Indicate whether the statement is true or false

Business

Warranties that offer explicit product performance promises related to components of the product are known as ________ warranties.

A. unlimited B. inclusive C. basic D. specific E. additional

Business

Darren wants to go into the business of direct merchandise sales. What are the legal problems that Darren might encounter in telemarketing? In selling door-to-door? In marketing over the Internet? In soliciting sales through the mail?

What will be an ideal response?

Business