I Pacific keeps inventory using the perpetual inventory system and carries out a rotational stock count of

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I Pacific keeps inventory using the perpetual inventory system and carries out a rotational stock count of a specific portion of the inventory every three months, as well as the full end-of-year stocktake as at 30 June 2022.

The results of the four separate stocktakes are shown in figure 10.83. image text in transcribed

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Accounting An Introduction To Principles And Practice

ISBN: 9780170403832

9th Edition

Authors: Edward A. Clarke, Michael Wilson

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Question Posted: Feb 23, 2024 03:01 PM

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I Pacific keeps inventory using the perpetual inventory system and carries out a rotational stock count of

Question:

Date 30 September 2021 31 December 2021 31 March 2022 30 June 2022 Inventory Account Value 40 900 53 700 45 500 180 200 Physical Count Value 40 300 54 000 45 100 179 000

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Rotational Stocktakes and EndofYear Stocktake Date ...View the full answer

Accounting An Introduction To Principles And Practice

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