(3) Which one of the following statement is NOT correct?
A: Periodic inventory system is more expensive to operate and less common.
B: Perpetual inventory system could help discover pilferage more quickly owing to frequent counts.
C: In periodic inventory system, inventory account is update only periodically via period- end inventory count.
D: Periodic inventory system might lead to lost sales.
A: Periodic inventory system is more expensive to operate and less common.
B: Perpetual inventory system could help discover pilferage more quickly owing to frequent counts.
C: In periodic inventory system, inventory account is update only periodically via period- end inventory count.
D: Periodic inventory system might lead to lost sales.
举一反三
- Translate the following special terms into Chinese. "perpetual inventory system 、periodic inventory system "
- Under a perpetual inventory system:
- What is the difference between the periodic and perpetual inventory systems
- The perpetual inventory system:（ ）。 A: is used by most businesses. B: other three choices are true. C: keeps a continuous record for each inventory item. D: requires an annual count of inventory on hand.
- Which of the following is the correct formula for cost of sales? A: Opening inventory – purchases + closing inventory B: Purchases – closing inventory + sales C: Opening inventory + closing inventory – purchases D: Opening inventory – closing inventory + purchases