What is the difference between a periodic inventory system and a perpetual inventory system? Discuss.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
The periodic inventory system is a method of recording inventory that required the company to determ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Question Posted:
Students also viewed these Accounting questions
-
The main difference between a periodic inventory system and a perpetual inventory system is: a. The length of time it takes to sell an item in inventory b. The frequency of receipt of goods by the...
-
What is the difference between a periodic and perpetual inventory system?
-
What is the difference between a realized gain or loss and an unrealized gain or loss?
-
(1) Choose all of the following statements that are correct about the time evolution of a general wave function: (I) The time evolution of a general wave function is governed by the Hamiltonian...
-
Using both words and graphs, demonstrate that a long (/$) call option on dollars is equivalent to a long ($/) put option on yen.
-
IWT International Warehousing and Transport needs 400,000 to finance an anticipated expansion in receivables due to increased sales. IWTs credit terms are net 60, and its average monthly credit sales...
-
Who is currently in your own network that you could use for prospecting? How might you add to your network?
-
Nowlin Pipe & Steel has projected sales of 72,000 pipes this year, an ordering cost of $6 per order, and carrying costs of $2.40 per pipe. a. What is the economic ordering quantity? b. How many...
-
Hudson Goins is a 45% partner in the Holly & Goins Partnership. During 2021, the partnership reported the total items below (100%) on its Form 1065: i (Click the icon to view the items on the Form...
-
A typical section of a building wall is shown in Fig. P17126. This section extends in and out of the page and is repeated in the vertical direction. The wall support members are made of steel (k = 50...
-
Describe the procedure for posting each of the following: a. From the sales journal to the accounts receivable ledger b. From the purchases journal to the accounts payable ledger
-
Record the following transactions in general journal form. a. Sold merchandise on account to D. North, invoice no. 4556, $ 2,515.25. b. Sold merchandise on account to NexStar Industries, invoice no....
-
In Problem solve for x. 7x - 6 = 5x - 24
-
You measure the intensity of a sound wave to be \(5.70 \mathrm{~W} / \mathrm{m}^{2}\). If the power output of the signal is \(90 \mathrm{~W}\) and the signal is emitted in all directions, how far...
-
The unit of horsepower was defined by considering the power output of a typical horse. Working-horse guidelines in the \(1900 \mathrm{~s}\) called for them to pull with a force equal to \(10 \%\) of...
-
A hole is drilled through the narrow end of a \(0.960-\mathrm{kg}\) baseball bat, and the bat is hung on a nail so that it can swing freely (Figure P15.85). The bat is \(0.860 \mathrm{~m}\) long, the...
-
A radio station has a power output of \(140 \mathrm{~W}\) and is located \(1.5 \mathrm{~km}\) from your house. The radio signal is emitted uniformly in all directions. What is the intensity \(I\) of...
-
In physics lab, you are measuring the period of a vertically hung spring-ball system in which the mass of the ball is \(0.50 \mathrm{~kg}\). As the system oscillates up and down, it also swings from...
-
Use the Chain Rule to find the derivative. y =t 2 + 9
-
Show that every group G with identity e and such that x * x = e for all x G is abelian.
-
Using the data for Exercise 13.36, add the resource assignments to each of the activities and input their hourly rates as shown. Construct an earned value chart for the project. Which activities have...
-
When a plant asset is sold, what must be known about the asset in order to determine the proper amount of gain or loss on the sale?
-
What details about a particular asset are provided by a property, plant, and equipment record?
-
What is the purpose of depletion?
-
2. A project requires $150 million investment. If you invest today, the present value of future cash flow is worth $180 million. You can wait for one year to observe the demand of the market;...
-
Respond to this students posting. In your response, you may want to comment on the ethical issues that arise in different career fields or give suggestions for dealing with the ethical questions that...
-
What does the Hedonic View of happiness primarily focus on?
Study smarter with the SolutionInn App