Ask Experts Questions for FREE Help !
Ask
    tamztots's Avatar
    tamztots Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jun 12, 2008, 04:03 PM
    What is involved in perpetual inventory system
    What are the procedures for performing the functions of accounting using the perpetual inventory method
    Credendovidis's Avatar
    Credendovidis Posts: 1,593, Reputation: 66
    -
    		  
    #2

    Jun 12, 2008, 06:03 PM
    Why twice the same question ?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #3

    Jun 12, 2008, 06:23 PM
    This is an entire chapter, and an extremely vague question. You want ALL the stuff done? I doubt I could even think of everything. There's entries under different circumstances, there's keeping track of inventory itself. You could mean just about anything.

    And now that I've read this question, I realize the other one about "calculating" COGS could even mean how to keep track of the inventory itself -- and that would entail a big example that I wouldn't even know how to get on this forum, and also involves an entire chapter.

    If you would like help, you need to be more specific, and break things down into smaller pieces.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Perpetual Inventory system [ 2 Answers ]

How is the cost of goods calculated using the perpetual inventory accounting system

Perpetual Inventory System [ 1 Answers ]

Hello- Please help with this scenario below International Galleries, Ltd. which maintains a perpetual inventory system on its works of art, has just sold for $5,000 cash a painting which it originally purchased on account for $3,000. In the journal below, record the sale...

Perpetual Inventory System [ 4 Answers ]

Nagle company purchased $2,500 worth of merchandise, terms n/30, from the Crafton Co on June 4. The cost of the merchandise to Crafton was $1800. On June 10, Nagle returned $350 worth of goods to Crafton for full credit. The goods had a cost of $225 to Crafton. On June 12, the account was paid...

Perpetual Inventory system [ 1 Answers ]

Apr 2. Britt received an $18,000 invoice from one of its suppliers. Terms were 2/10 n/30, FOB shipping Point. Britt paid the freight bill amounting to $2,000. 4.Britt returned $2,500 of the merchandise billed on April 2 because it was defective. 5. Britt sold $8,000 of merchandise on account,...

View more questions Search