Periodic vs.Perpetual Inventory Accounting Multiple Choice Periodic Inventory Accounting results in a higher Cost of Goods Sold than Perpetual Inventory Accounting Sometimes Periodic Inventory Accounting results in a lower Cost of Goods Sold than Perpetual Inventory Accounting and sometimes Periodic Inventory Accounting results in a higher Cost of Goods Sold than Perpetual Inventory Accounting Periodic Inventory Accounting results in a lower Cost of Goods Sold than Perpetual Inventory Accounting Periodic and Perpetual Inventory Accounting result in the same Cost of Goods Sold

Answer:

Periodic and Perpetual Inventory Accounting result in the same Cost of Goods Sold.

Explanation:

A periodic system of inventory can be defined as a method of financial accounting, that typically involves updating informations about an inventory on a periodic basis (at specific intervals) as the sales or purchases are being made by the customers, through the use of either an enterprise management software applications or a digitized point-of-sale equipment.

A perpetual inventory system is a type of inventory management that continuously records in real-time the amount of inventory sold or purchased through the use of enterprise software or technological software applications such as a point of sale (POS).

Under a perpetual system of inventory, updates of the journal entry for cost of goods sold or received would include debiting accounts receivable and crediting sales immediately as it is being made or happening. The advantage of the perpetual system of inventory over the periodic system of inventory is that, it ensures the inventory account balance is always accurate provided there are no spoilage, theft etc. Also, the periodic system of inventory is a function of the cost of goods sold.

Hence, both Periodic and Perpetual Inventory Accounting result in the same Cost of Goods Sold.

_ is also known as coolant and is found in liquid-cooled engines.

On January 1, Year 1, Can Corporation distributed Sec. 1231 land with a market value of $300,000 and an adjusted basis of $205,000 under a plan of partial liquidation under the Sec. 302(b)(4) rules. The distribution was made to individual shareholder Clem, who had owned 40% of Can since it was founded. Clem’s stock interest redeemed in the partial liquidation had a basis of $140,000. What are the amount and the character of gain/loss that Can should recognize on the distribution?

Which plan would most likely NOT help you reach the savings needed for college? ​

The Corbit Corp. sold merchandise for $10,000 cash. The cost of the goods sold was $7,590. The journal entries to record this transaction under the perpetual inventory system would be

a.

Cash 10,000
Sales 10,000
Cost of Goods Sold 7,590
Inventory 7,590
b.

Cash 7,590
Sales 7,590
Cost of Goods Sold 7,590
Inventory 7,590
c.

Cash 10,000
Sales 10,000
Cost of Goods Sold 10,000
Inventory 10,000
d.

Cash 10,000
Inventory 10,000
Cost of Goods Sold 7,590
Sales 7,590

The single greatest benefit that capitalism provides is that it enables human choice. Capitalism establishes a social contract that makes it possible for individuals to exercise their franchise and free agency. It gives people the ability to be secure in themselves and their possessions and, having provided security, it enables people to assume risk that they were previously unwilling to assume. It creates the necessary conditions for people to escape poverty and create wealth for themselves and for others. Read a quotation by Roger Butters, a twenty-first-century economist. Both Adam Smith and Butters would agree that capitalism allows the government to help individuals. protects workers from unfair practices. provides individuals with freedom of choice. helps entrepreneurs avoid risk and danger.

Threadless (Strategy Highlight 5.2.) is a community-centered online apparel store that leverages user-generated content. The idea is to turn consumers into prosumers, a hybrid between producers and consumers. Members of the Threadless community do most of the work, which they consider fun: They submit T-shirt designs online, and community members vote on which designs they like best. The designs receiving the most votes are put in production, printed, and sold online. It can be said that Threadless uses the _____ technique.

why is Africa called plateaus of plateu?​

what are some good outdoor thing to do outside for the summer
list as many as can

Whether speech is going to be delivered before one or one hundred people, the speaker should:
a.
Concentrate on getting everything out quickly
b.
Imitate the mannerisms of great speakers
c.
Prepare their thoughts in advance
d.
Use their biggest vocabulary to sound educated

Define general banking services offered by financial institutions

Match the action needed to increase profits with the reason a business might fail.
Setting a realistic budget for the company to follow would match with________.

A) bad location

B) poor management

C) Competition

D) finances