Under a perpetual inventory system, when a shortage is discovered a.Merchandise Inventory is debitedb.Cost of Merchandise Sold is creditedc.Inventory Shortages is creditedd.Merchandise Inventory is credited

Question

03-04-2020
Business

contestada

Under a perpetual inventory system, when a shortage is discovered a.Merchandise Inventory is debitedb.Cost of Merchandise Sold is creditedc.Inventory Shortages is creditedd.Merchandise Inventory is credited

Respuesta :

Otras preguntas

If the relationship between distance y in feet and time x in seconds is proportional,which rate is represented by y/x=0.6

Membership in the European Union requires countries to have which type of government? democracy monarchy communist dictatorship

Which words make up the adjective phrase in this sentence? The clock by the water fountain stopped working yesterday afternoon. A. by the water fountain B. yest

Which organelles aid in locomotion?

a recipe calls for 2 2/4 cups of raisins, but julie only has a 1/4 cup measuring cup. How many 1/4 cups does julie need to measure oit 2 2/4 cups of raisins?

In England people associate the acceptance of their bill of rights with the reign of

homeostasis is maintained in a single -celled organism by the interaction of

Dexter has 44 tiles left over from tiling his bathroom floor and he would like to use them to tile the front entrance of his house. Each tile has an area of 9 i

What is the decimal for 123/1,000

Explain how we view stars magnitude in the night sky and how that is different from the way astrologists study stars. plz awnser

ogechukwubenedict ogechukwubenedict · Answer 1 · 2020-04-05T03:25:31+02:00

Answer: d. Merchandise Inventory is credited

Explanation: merchandise Inventory is a current asset showing the cost of goods on hand and available for sale at any given moment in time and is continuously updated to reflect items on hand under the perpetual inventory system. Under the perpetual inventory system, the Merchandise Inventory account is debited and credited for each purchase and sale respectively. This effectively shows the current balance in the account at all time. However, during shortages, the Merchandise Inventory is credited.