using a perpetual inventory system, when a company records a sale of merchandise, it must also record? A. a decrease in its inventory B. an increase in its inventory C. Cost of goods sold, which will be reported on the income statement D. Cost of goods sold, which will be reported on the balance sheet

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09-12-2022
Business

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using a perpetual inventory system, when a company records a sale of merchandise, it must also record? A. a decrease in its inventory B. an increase in its inventory C. Cost of goods sold, which will be reported on the income statement D. Cost of goods sold, which will be reported on the balance sheet

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Tutorconsortium431 Tutorconsortium431 · Answer 1 · 2022-12-16T04:56:19+01:00

The perpetual inventory technique does not make an effort to keep track of counts of tangible goods. Periodic inventory is in contrast to perpetual inventory systems.

What exactly is an inventory system?

The method through which you keep track of your products across the whole supply chain, from purchase to manufacture to final sales, is known as just an inventory management system (or inventory system). It controls how you go about managing your company's inventory.

What is the unbreakable inventory rule?

Freely count - Inventory and spare parts that are improperly organized in the warehouse will inevitably lead to disorganized storage and pitiful accountability. Additionally, this will waste time and add to the workload. Therefore, inventory should be organized properly, made visible, and count free.

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