Which paper establishes one initial record of the receipt the the inventory?a. Receiving reportb. Vendor"s invoicec. Acquisition orderd. Petty cash voucher

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Which the the following is not an instance for safeguarding inventory?a. Storing inventory in minimal areasb. Physical gadgets such together two-way mirrors, cameras, and alarmsc. Equivalent receiving documents, purhcase orders, and vendor"s invoiced. Returning inventory the is defective or broken
Ending inventory is comprised of the earliest purchases once a company usesa. First-in, first-outb. Last-in, first-outc. Median costd. Sleeve method
When merchandise offered is presume to it is in in the order in i beg your pardon the purchases to be made, the agency is using:a. An initial in , critical outb. Last in, first outc. Very first in, an initial outd. Typical cost
When utilizing a perpetual perform system, the journal entry to record the price of merchandise marketed is:a. Debit price of Merchandis Sold; credit salesb. Debit price of goods Sold; credit Merchandise Inventoryc. Debit merchandise Inventory; credit expense of goods Soldd. No newspaper entry is do to document the expense of was sold
Under the _____ list method, bookkeeping records maintain a consistently updated list value.a. Retailb. Periodicc. Physicald. Perpetual
Under a periodic inventory system:a. Bookkeeping records repetitively disclose the quantity of inventoryb. A different account because that each form of was is preserved in a subsidiary ledgerc. A physics inventory is taken in ~ the end of the periodd. Merchandise perform is debited when products are returned to vendors
During a period of continuously rising prices, the method of inventory that will result in reporting the greatest cost of merchandise sold is:a. FIFOb.LIFOc.average costd.weighted average
The inventory date for things for November are:Nov. 1 list 20 devices at 19Nov. 4 marketed 10 unitsNov. 10 to buy 30 systems at 20Nov. 17 offered 20 unitsNov. 30 purchase 10 devices at 21Using a perpetual system, what is the expense of the merchandise offered for November if the company uses LIFO?a. $610b. $600c. $590d. $580
The inventory day for an item for November are:Nov. 1 inventory 20 systems at 19Nov. 4 sold 10 unitsNov. 10 to buy 30 systems at 20Nov. 17 offered 20 unitsNov. 30 purchased 10 units at 21Using a perpetual system, what is the price of the merchandise sold for November if the company uses FIFO?a. $610b. $600c. $590d. $580


Fundamental Financial accounting Concepts9th EditionChristopher Edmonds, Frances M McNair, Philip R. Olds, thomas P. Edmonds


Intermediate Accounting, Binder prepared Version16th EditionDonald E. Kieso, Jerry J. Weygandt, terrycloth D. Warfield

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