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21 Feb 2020

Job order costing system normally uses a perpetual inventory system. True or False?

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Related questions

8. Which of the following statements is false? A. A perpetual inventory system can detect inventory shrinkage. B. A perpetual inventory system updates the inventory account for each purchase and sale. C. A perpetual inventory system uses a purchases account. D. A periodic inventory system uses the physical count of inventory to infer cost of goods sold.

When a company uses a perpetual inventory system, allmerchandise transactions are updated as and when they occur; so,the inventory account will show the current balance at alltimes.

A. True

B. False

bluecricket831

Under a perpetual inventory system, the acquisition of merchandise for resale is debited to purchases accounts. True or False?

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