Why does the closing entry for a merchandising company using a perpetual inventory system NOT include an

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Why does the closing entry for a merchandising company using a perpetual inventory system NOT include an entry for freight in?

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Posted Date: Mar 20, 2024 08:43 AM

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Why does a merchandising company using a perpetual inventory system include freight out in its closing entries, and not freight in?
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Why does the closing entry for a merchandising company using a perpetual inventory system NOT include an

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