Weegy: The balance of a perpetual inventory system at any given time is the book inventory. It must be confirmed with an actual physical count at least once a year. (More)

Weegy: The inventory system in which merchandise is physically counted at least once a year to determine the value of the goods available for sale is called a periodic inventory system. User: The average inventory at retail for Modern Age Furniture was $1,389,008. The turnover rate at retail was 2.6, based on net sales of $3,611,420. The published inventory turnover at retail is 5.3. Since the actual turnover rate is less than the published rate, calculate the target average inventory at retail. (Round your answer to the nearest dollar) (More)

Weegy: The number of times during an operating period that the average dollars invested in merchandise inventory were theoretically sold out is called inventory turnover (or stock [ turnover). ] (More)

Weegy: Goods purchased and held for resale are commonly known as merchandise inventory. (More)