Why is it important to periodically take a physical inventory if the perpetual system is used?
Question:
Why is it important to periodically take a physical inventory if the perpetual system is used?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
A physical count of inventory should be taken near yearend to ve...View the full answer
Answered By
Saud Ur Rehman
Evaluating manufacturing processes by designing and conducting research programs; applying knowledge of product design, fabrication, assembly, tooling, and materials; conferring with equipment vendors; soliciting observations from operators. Developing manufacturing processes by studying product requirements; researching, designing, modifying, and testing manufacturing methods and equipment; conferring with equipment vendors. Keeping equipment operational by coordinating maintenance and repair services; following manufacturer's instructions and established procedures; requesting special service.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Accounting questions
-
Why is it important to periodically take a physical inventory when using a perpetual inventory system?
-
Why is it important to scale up system bus and device speeds as the CPU speed increases?
-
Why is it important to take this course in management?
-
JOB SHEETS: Job cost sheets for each of the ten jobs appear on this sheet. Additionally, a combo box for each job (ten combo boxes total) appears for each job. Further, on this sheet, a check box...
-
For each of the following uncertain quantities, discuss whether it is reasonable to assume that the probability distribution of the quantity is normal. If the answer isn't obvious, discuss how you...
-
Paddleboard Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019 and 2020, is shown below along with some other information. Other information regarding...
-
With reference to the previous exercise, find a \(90 \%\) confidence interval for the difference of the two means. Data From Previous Exercise 8.26 With reference to Exercise 2.64, test that the mean...
-
Zeon, a large, profitable corporation, is considering adding some automatic equipment to its production facilities. An investment of $120,000 will produce an initial annual benefit of $29,000, but...
-
Apex Limited (APL) is a management consultancy company headquartered in Singapore. After the successful implementation of a share option plan for the senior management team in 20x1, the company has...
-
Manson Incorporated reported investments in equity securities of $60,495 as a current asset on its December 31, 2018, balance sheet. An analysis of Mansons investments on December 31, 2018, reveals...
-
Before inventory purchases are recorded, the receiving report should be reconciled to what documents? Discuss.
-
Because of imperfections, an item of merchandise cannot be sold at its normal selling price. How should this item be valued for financial statement purposes?
-
(a) Find the exact solution to the linear system x - 5 y - z = l.1/6x - 5/6y + z = 0,2x-y = 3. (b) Solve the system using Gaussian Elimination with 4 digit rounding. (c) Solve the system using...
-
You recently started working as a medical office assistant. You really enjoy working with patient accounts. Your supervisor mentioned there would be opportunities for advancement over the next few...
-
Which type of campaign finance law is more vulnerable to First Amendment challenge: a limit on individual contributions to the campaign, or a limit on how much the campaign can spend? Group of answer...
-
On December 31, 2022, Illini Inc. reported 200,000 shares of its $4 par value common stock outstanding. On January 31, 2023, when the market price of the stock was $10, the corporation declared a 15%...
-
A plastic bottle island is assumed to be rectangular, 2 5 . 0 cm wide and 2 8 . 0 cm long, and has vertical sides. The bottom of the island is 0 . 5 0 m below the surface water. What is the weight of...
-
1. What is your estimate of Eskimo Pie as a standalone company? Assume cash is worth $1 per $1 and adjust Eskimo Pie NI accordingly (assuming no excess cash) on the way to calculating FCF for Eskimo...
-
Repeat Problem 9.14 for a bolted double line-to-ground fault. Problem 9.14 Determine the subtransient fault current in per-unit and in kA, as well as the per-unit line-to-ground voltages at the fault...
-
When a company has a contract involving multiple performance obligations, how must the company recognize revenue?
-
Compute the indicated probabilities in Problems 47 and 48 by referring to the following probability tree: (A) P(N R) (B) P(S) .3 .7 M N- .4 .6 .2 .8 R S R S
-
Where are gains and losses related to cash flow hedges involving anticipated transactions reported?
-
Where are gains and losses related to cash flow hedges involving anticipated transactions reported?
-
What are hybrid securities? Give an example of a hybrid security.
-
Calculate the following showing all the necessary steps: Note: CPP rate to be used in the calculation is 5.95%. Note: Don't forget to deduct pay period exemption\ \ Tanya earns $25.00 per hour. This...
-
Harley-Davidson, inc. (HOG), is a leading motorcycle manufacturer in the United States. The company manufactures and sells a number of different types of motorcycles, a complete line of motorcycle...
-
What is the net income for this period and total assets on this balance sheet Use the following adjusted trial balance to answer questions 22-25. Cash $ 6,530 Accounts Receivable 2,450 Prepaid...
Study smarter with the SolutionInn App