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更多“In a perpetual inventory system, when merchandise is purchased, it is debited to an ac”相关的问题
When the perpetual inventory system is used, the inventory sold is debited to ()
A. supplies expense
B. cost of merchandise sold
C. merchandise inventory
D. sales
A.credit to Sales Returns and Allowances
B.debit to Merchandise Inventory
C.credit to Merchandise Inventory
D.debit to Cost of Merchandise Sold
The following are true of a perpetual inventory system except that______.
A．in a perpetual inventory system, a continuous record of the quantities and costs of inventory on hand is maintained
B．a perpetual inventory system is more likely to be used when the stock is composed of a large number of relatively low cost items
C．in a perpetual inventory system, purchases of products are debited directly while sales of products are credited to the stock account
D．a perpetual inventory system provides a better control over stock
A、Purchase of merchandise on credit.
B、Return of merchandise.
C、Sale of merchandise on credit.
D、Payment of the account payable and recognition of a 2% cash discount taken.
E、Payment of the account payable and recognition of a 1% cash discount taken.
A、average-cost method、first-in, first-out method
B、perpetual inventory system、periodic inventory system
C、periodic inventory system、perpetual inventory system
D、None of the above.
A．may yield a higher inventory valuation than LIFO under a periodic inventory system when prices are steadily falling．
B．may yield a higher inventory valuation than LIFO under a periodic inventory system when prices are steadily rising．
C．always yields the same inventory valuation as LIFO under a periodic inventory system．
D．can never yield the same inventory valuation as LIFO under a periodic inventory system．
A．A.no Purchases account is use
B．B.a Cost of Goods Sold account is use
C．C.two entries are required to record a sal
D．D.all of thes
E．E.
A、GAAP, FIFO
B、perpetual inventory system, periodic inventory system.
C、Liquidity、bad debt
D、None of the above.
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