You have new items in your feed. Click to view.
Question and answer
Q: What are the journal entries a merchandising organization would use to record the purchase and subsequent sale of merchandise? How would these transactions differ with a periodic versus a perpetual
inventory system?
A: Stores that use periodic inventory accounting update their inventory balances periodically. [ [ This inventory method has been used before the introduction of point-of-sales scanners and inventory systems, in which stores found it easier to update their inventory balances periodically instead of trying to account for every item sold on a daily basis. Perpetual inventory accounting, on the
other hand, records EACH sale of merchandise and places an entry in the company's inventory account. The introduction of point-of-sale systems and computers greatly advanced the use of the the perpetual inventory system. This system also immediately reduces sold inventory from stock and adds inventory back to stock when a customer returns merchandise. ] ]
Expert answered|kraju|Points 30|
Question
Asked 10/30/2012 9:13:06 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
0 questions answered
Popular Conversations
Calculate the product 1/3 and 1/5
Weegy: The product of 1/3 and 1/4 is 1/12. Solution: 1/3 * 1/4 = 1/12
5/23/2017 9:39:31 PM| 1 Answers
Giving human characteristics to objects or ideas is
Weegy: Giving human characteristics to objects or ideas is PERSONIFICATION.
5/19/2017 10:58:38 PM| 0 Answers
Motivation refers to forces that
Weegy: Motivation refers to forces that: energize, direct, and sustain a person's efforts.
5/19/2017 10:41:24 PM| 0 Answers
Which branch of government makes the law
Weegy: The legislative branch of government makes the law.
5/24/2017 6:13:01 PM| 0 Answers
A tapeworm lives off the nutrients in an animal s digestive tract. ...
Weegy: A tapeworm lives off the nutrients in an animal's digestive tract. Therefore, a tapeworm is a PARASITE.
5/24/2017 10:19:19 AM| 0 Answers
Giving human characteristics to objects or ideas is
Weegy: Giving human characteristics to objects or ideas is PERSONIFICATION.
5/24/2017 10:17:32 AM| 0 Answers
Stage 1 of delivery averages about 8 hours but may be longer for ...
Weegy: Stage 1 of delivery averages about 8 hours but may be longer for first-time mothers. TRUE.
5/24/2017 10:12:05 AM| 0 Answers
The position from which you write about your subject is called your ...
Weegy: The position from which you write about your subject is called your POINT OF VIEW.
5/24/2017 10:03:54 AM| 0 Answers
Which type of tax is applied only to particular goods? A. excise ...
Weegy: Excise tax is applied only to particular goods.
5/23/2017 7:13:31 PM| 0 Answers
In “A Few Don’ts,” Pound encourages the use of __________instead of ...
Weegy: In A Few Don'ts, Pound encourages the use of The Concrete instead of the vagueness of abstractions. User: ...
5/22/2017 11:51:10 AM| 0 Answers
Weegy Stuff
S
Points 26 [Total 26] Ratings 0 Comments 26 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 10 [Total 366] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
P
P
L
P
P
P
Points 7 [Total 1730] Ratings 0 Comments 7 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 2 [Total 467] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.