When a company uses a perpetual inventory system, why is it still necessary to take a physical count or measurement of inventories?
Answer to relevant QuestionsAlliance Appliance Ltd. (AAL) is an assembler and distributor of household appliances: primary kitchen equipment as well as washing machines and driers. AAL assembles the appliances from components received mainly from ...In February 20X3, La Fondue Limited signed a two- year con-tract with a Quebec cheese supplier to provide a minimum of 1,500 kilograms of fine cheese for fondue at a fixed price of $ 20 per kilogram. By the end of October, ...Consider each of the following independent situations: Case A Inventory was received and was recorded at the invoice price of $ 56,000. The goods had neither been sold nor paid for at year- end. Consequently, a 2% discount ...Cabernet Incorporated is a BC- based wine producer. In anticipation of a particularly bounteous grape harvest and a potential problem in obtaining a sufficient volume of shipping crates, Cabernet entered into a ...The records of Diskount Depart-ment Stores Inc. provided the following data for 20X5: Sales ( gross)........... $ 800,000 Sales returns........... 2,000 Additional markups......... 9,000 Additional markup cancellations ...
Post your question