When identical units of an item are purchased at different costs a. an inventory cost flow method must be used under a periodic inventory system only. b. an inventory cost flow method is not used under either a perpetual or a periodic inventory system. Oc an inventory cost flow method must be used under both a perpetual and a periodic inventory system. Od. an inventory cost flow method must be used under a perpetual inventory system only.
When identical units of an item are purchased at different costs a. an inventory cost flow method must be used under a periodic inventory system only. b. an inventory cost flow method is not used under either a perpetual or a periodic inventory system. Oc an inventory cost flow method must be used under both a perpetual and a periodic inventory system. Od. an inventory cost flow method must be used under a perpetual inventory system only.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 4QY: This type of inventory system does not require an entry to Merchandise Inventory until a physical...
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