The use of a perpetual inventory system has two important effects on a manufacturing company's work sheet compared to a work sheet for a business that uses a periodic inventory system. The two effects are:
a. Work in Process Inventory accounts are adjusted at the time sales occur and inventory accounts reflect beginning balances.
b. Cost of goods sold is adjusted at the end of the year and inventory accounts reflect ending balances.
c. Cost of goods sold is accumulated in a Cost of Goods Sold account as sales occur and inventory accounts reflect beginning balances which need to be adjusted.
d. Finished Goods Inventory must be adjusted and the Materials Inventory account reflects an ending balance.
e. Cost of goods sold is accumulated in a Cost of Goods Sold account as sales occur and inventory accounts reflect ending balances.
e
You might also like to view...
A tangible benefit can be measured and expressed in financial terms
Indicate whether the statement is true or false
Someone who is open minded
a. asks probing questions. b. shows respect for new and different ideas. c. demonstrates the ability to use icebreakers. d. none of these choices.
The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called
A. market planning. B. marketing strategy planning. C. management by objective. D. strategic (management) planning. E. marketing programming.
Explain the difference between intercultural communication, multiculturalism, and inclusion