Matching
Match each description to the appropriate inventory system.
Premises:
This system can be costly and time consuming if not computerized.
Average cost is rarely used with this system.
Under this system, only revenue is recorded when sales are made.
When using this system, a physical inventory is necessary to determine cost of goods sold.
Responses:
Perpetual
Periodic
Correct Answer:
Premises:
Responses:
This system can be costly and time consuming if not computerized.
Average cost is rarely used with this system.
Under this system, only revenue is recorded when sales are made.
When using this system, a physical inventory is necessary to determine cost of goods sold.
Premises:
This system can be costly and time consuming if not computerized.
Average cost is rarely used with this system.
Under this system, only revenue is recorded when sales are made.
When using this system, a physical inventory is necessary to determine cost of goods sold.
Responses:
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