Ask Question
29 May, 07:00

The primary difference between the periodic and perpetual inventory systems is that a a. periodic system determines the inventory on hand only at the end of the accounting period b. periodic system provides an easy means to determine inventory shrinkage c. periodic system keeps a record showing the inventory on hand at all times d. periodic system records the cost of the sale on the date the sale is made

+4
Answers (1)
  1. 29 May, 07:21
    0
    a. periodic system determines the inventory on hand only at the end of the accounting period

    TRUE under perpetual method, the company know pretty on a daily basis how much inventory is in their existences.

    While periodic system will only determinate this near year-end or end-of-the-month if needed

    Explanation:

    c. periodic system keeps a record showing the inventory on hand at all times

    d. periodic system records the cost of the sale on the date the sale is made

    FALSE. As the periodic system will determinate inventories valaution at year-end or end-of-the-month
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The primary difference between the periodic and perpetual inventory systems is that a a. periodic system determines the inventory on hand ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers