PDA

View Full Version : Inventory systems


lue.lla
Dec 9, 2010, 01:43 PM
Inventory systems:-

1.In a perpetual inventory system, detailed records are maintained continuously.
2.In a perpetual Inventory system, all purchases made by the company are first debited to merchandise inventory account.
3.In a perpetual Inventory system, a physical count of the inventory is never needed.

Which answer is correct or all answers are correct for the Inventory systems?

Just Looking
Dec 9, 2010, 03:04 PM
Please read this announcement.

https://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html

If you'd like to post your answer and reasoning, we'll check it for you. I think if you read the definition of a perpetual inventory system you will be able to answer this.